Looking to diversify beyond FSPGX? The mutual funds below have historically moved differently from FSPGX, 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 FSPGX
62 mutual funds have low correlation with FSPGX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.16, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.16 | 0.07 | 0.20 | 88 | Energy Equities | FSPGX vs FSENX | |
| Fidelity SAI Inflation-Focused | -0.15 | -0.00 | 0.09 | 74 | Commodities | FSPGX vs FIFGX | |
| Fidelity Series Commodity Strategy Fund | 0.01 | 0.07 | 0.13 | 69 | Commodities | FSPGX vs FCSSX | |
| Fidelity Commodity Strategy Fund | 0.01 | 0.07 | 0.13 | 65 | Commodities | FSPGX vs FYHTX | |
| Fidelity Series Treasury Bill Index Fund | 0.02 | -0.01 | 0.01 | 100 | Ultrashort Bond | FSPGX vs FHQFX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSPGX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.36, down from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.36 | -0.15 | -0.01 | 64 | Consumer Defensive | |
| The Coca-Cola Company | -0.31 | -0.11 | 0.11 | 86 | Consumer Defensive | |
| Chubb Limited | -0.30 | -0.07 | 0.11 | 86 | Financial Services | |
| Chevron Corporation | -0.30 | -0.07 | 0.09 | 76 | Energy | |
| Verizon Communications Inc. | -0.29 | -0.15 | 0.01 | 63 | Communication Services |
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