Looking to diversify beyond FSMVX? The mutual funds below have historically moved differently from FSMVX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FSMVX
1 mutual funds have low correlation with FSMVX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.16, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.16 | 0.27 | 0.32 | 95 | Bank Loan | FSMVX vs FFRHX | |
| Fidelity Select Biotechnology Portfolio | 0.37 | 0.53 | 0.54 | 94 | Health & Biotech Equities | FSMVX vs FBIOX | |
| Fidelity Select Technology Portfolio | 0.50 | 0.51 | 0.62 | 72 | Technology Equities | FSMVX vs FSPTX | |
| Fidelity Select Semiconductors Portfolio | 0.55 | 0.54 | 0.62 | 80 | Semiconductors, Technology Equities | FSMVX vs FSELX | |
| Fidelity Emerging Markets Index Fund | 0.57 | 0.55 | 0.58 | 62 | Emerging Markets Equities | FSMVX vs FPADX |
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