Looking to diversify beyond FSMAX? The mutual funds below have the lowest correlation with FSMAX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FSMAX.
Best Diversifiers for FSMAX
4 mutual funds have low correlation with FSMAX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity SAI Inflation-Focused (FIFGX) (Commodities) with a 1Y correlation of -0.16, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity SAI Inflation-Focused | -0.16 | 0.04 | 0.14 | 54 | Commodities | FSMAX vs FIFGX | |
| Fidelity Select Energy Portfolio | 0.04 | 0.30 | 0.39 | 62 | Energy Equities | FSMAX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.10 | 0.13 | 0.15 | 90 | Inflation-Protected Bonds | FSMAX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.18 | 0.28 | 0.33 | 93 | Bank Loan | FSMAX vs FFRHX | |
| AQR Long-Short Equity Fund | 0.32 | 0.34 | 0.22 | 61 | Long-Short | FSMAX vs QLEIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSMAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSMAX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.22, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.22 | -0.01 | 0.11 | 81 | Consumer Defensive | |
| The Coca-Cola Company | -0.21 | 0.00 | 0.14 | 83 | Consumer Defensive | |
| Duke Energy Corporation | -0.16 | -0.01 | 0.08 | 66 | Utilities | |
| Chubb Limited | -0.14 | 0.06 | 0.22 | 86 | Financial Services | |
| Exxon Mobil Corporation | -0.13 | 0.11 | 0.24 | 75 | Energy |
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Build a portfolio that complements FSMAX
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