Looking to diversify beyond FSPCX? The mutual funds below have historically moved differently from FSPCX, 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 FSPCX
19 mutual funds have low correlation with FSPCX (below 0.3), 13 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of -0.37, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | -0.37 | -0.09 | 0.16 | 80 | Semiconductors, Technology Equities | FSPCX vs FSELX | |
| Fidelity Select Technology Portfolio | -0.29 | -0.03 | 0.22 | 72 | Technology Equities | FSPCX vs FSPTX | |
| Fidelity OTC Portfolio | -0.27 | 0.00 | 0.26 | 76 | Large Cap Growth Equities | FSPCX vs FOCPX | |
| Fidelity Emerging Markets Fund | -0.26 | -0.03 | 0.19 | 52 | Emerging Markets Equities | FSPCX vs FEMKX | |
| Fidelity Series Emerging Markets Opportunities Fun... | -0.26 | -0.01 | 0.20 | 75 | Emerging Markets Equities | FSPCX vs FEMSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSPCX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.55, down from 0.71 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.55 | 0.64 | 0.71 | 61 | Financial Services |
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