Looking to diversify beyond FSPHX? The mutual funds below have the lowest correlation with FSPHX — 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 FSPHX.
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 -0.10, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.10 | 0.09 | 0.19 | 63 | Energy Equities | FSPHX vs FSENX | |
| Fidelity Select Technology Portfolio | 0.21 | 0.37 | 0.53 | 83 | Technology Equities | FSPHX vs FSPTX | |
| Fidelity Select Semiconductors Portfolio | 0.22 | 0.35 | 0.47 | 92 | Semiconductors, Technology Equities | FSPHX vs FSELX | |
| Fidelity Select Tech Hardware Portfolio | 0.27 | 0.41 | 0.55 | 97 | Technology Equities | FSPHX vs FDCPX | |
| Fidelity OTC Portfolio | 0.31 | 0.43 | 0.59 | 88 | Large Cap Growth Equities | FSPHX vs FOCPX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSPHX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSPHX and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.18, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.18 | 0.00 | 0.11 | 63 | Energy | |
| Bunge Limited | 0.05 | 0.10 | 0.17 | 87 | Consumer Defensive | |
| IREN Limited | 0.11 | 0.24 | — | 80 | Financial Services | |
| CrowdStrike Holdings, Inc. | 0.11 | 0.27 | 0.42 | 75 | Technology | |
| Apple Inc | 0.17 | 0.25 | 0.42 | 90 | Technology |
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Build a portfolio that complements FSPHX
Add FSPHX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FSPHX