Looking to diversify beyond FSMEX? The mutual funds below have the lowest correlation with FSMEX — 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 FSMEX.
Best Diversifiers for FSMEX
4 mutual funds have low correlation with FSMEX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.04, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.04 | 0.11 | 0.17 | 78 | Energy Equities | FSMEX vs FSENX | |
| Fidelity Select Semiconductors Portfolio | 0.27 | 0.40 | 0.52 | 97 | Semiconductors, Technology Equities | FSMEX vs FSELX | |
| Fidelity OTC Portfolio | 0.27 | 0.42 | 0.56 | 92 | Large Cap Growth Equities | FSMEX vs FOCPX | |
| Fidelity Select Technology Portfolio | 0.30 | 0.44 | 0.59 | 93 | Technology Equities | FSMEX vs FSPTX | |
| Frost Credit Fund | 0.32 | 0.31 | 0.29 | 59 | Short-Term Bond | FSMEX vs FCFAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSMEX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSMEX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.24, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.24 | 0.25 | 0.40 | 90 | Technology | |
| BlackRock Science and Technology Trust | 0.25 | 0.40 | 0.54 | 90 | Financial Services | |
| Texas Instruments Incorporated | 0.27 | 0.38 | 0.45 | 82 | Technology |
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