Looking to diversify beyond FSPGX? The mutual funds below have the lowest correlation with FSPGX — 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 FSPGX.
Best Diversifiers for FSPGX
85 mutual funds have low correlation with FSPGX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) (Inflation-Protected Bonds) with a 1Y correlation of -0.04, roughly unchanged from 0.05 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Series 0-5 Year Inflation-Protected Bond ... | -0.04 | 0.05 | — | 80 | Inflation-Protected Bonds | FSPGX vs FSTZX | |
| Fidelity Series Treasury Bill Index Fund | -0.01 | -0.00 | 0.01 | 100 | Ultrashort Bond | FSPGX vs FHQFX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.00 | 0.05 | 0.12 | 84 | Inflation-Protected Bonds | FSPGX vs VTAPX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | 0.02 | 0.02 | 0.02 | 97 | Municipal Bonds | FSPGX vs FGNSX | |
| Fidelity Sustainable Low Duration Bond | 0.05 | -0.02 | — | 99 | Ultrashort Bond | FSPGX vs FAPGX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSPGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSPGX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.30, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.30 | -0.12 | 0.01 | 72 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.27 | -0.07 | 0.06 | 72 | Energy | |
| Duke Energy Corporation | -0.26 | -0.15 | -0.01 | 62 | Utilities | |
| Chevron Corporation | -0.25 | -0.05 | 0.09 | 70 | Energy | |
| Verizon Communications Inc. | -0.24 | -0.12 | 0.02 | 66 | Communication Services |
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