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
5 mutual funds have low correlation with FSMEX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.23, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.23 | 0.39 | 0.51 | 96 | Semiconductors, Technology Equities | FSMEX vs FSELX | |
| Fidelity Blue Chip Growth Fund | 0.28 | 0.42 | 0.55 | 68 | Large Cap Growth Equities | FSMEX vs FBGRX | |
| Fidelity Select Technology Portfolio | 0.28 | 0.43 | 0.58 | 89 | Technology Equities | FSMEX vs FSPTX | |
| Fidelity OTC Portfolio | 0.30 | 0.46 | 0.61 | 90 | Large Cap Growth Equities | FSMEX vs FOCPX | |
| Fidelity Select Tech Hardware Portfolio | 0.30 | 0.44 | 0.58 | 98 | Technology Equities | FSMEX vs FDCPX |
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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 0.22, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.22 | 0.25 | 0.40 | 87 | Technology | |
| Texas Instruments Incorporated | 0.23 | 0.37 | 0.44 | 77 | Technology | |
| BlackRock Science and Technology Trust | 0.24 | 0.39 | 0.53 | 88 | Financial Services |
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