Looking to diversify beyond FSPHX? The mutual funds below have historically moved differently from FSPHX, 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 FSPHX
4 mutual funds have low correlation with FSPHX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.12, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.12 | 0.08 | 0.19 | 87 | Energy Equities | FSPHX vs FSENX | |
| Fidelity Select Technology Portfolio | 0.22 | 0.37 | 0.53 | 72 | Technology Equities | FSPHX vs FSPTX | |
| Fidelity Select Semiconductors Portfolio | 0.23 | 0.35 | 0.46 | 80 | Semiconductors, Technology Equities | FSPHX vs FSELX | |
| Fidelity Select Tech Hardware Portfolio | 0.26 | 0.42 | 0.55 | 94 | Technology Equities | FSPHX vs FDCPX | |
| Fidelity OTC Portfolio | 0.31 | 0.43 | 0.58 | 76 | Large Cap Growth Equities | FSPHX vs FOCPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSPHX, 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 ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.21, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.21 | -0.02 | 0.08 | 72 | Energy | |
| Bunge Limited | 0.00 | 0.09 | 0.16 | 78 | Consumer Defensive | |
| IREN Limited | 0.09 | 0.23 | 0.24 | 78 | Financial Services | |
| Berkshire Hathaway Inc. | 0.12 | 0.32 | 0.41 | 61 | Financial Services | |
| CrowdStrike Holdings, Inc. | 0.14 | 0.26 | 0.41 | 80 | Technology |
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