Looking to diversify beyond FSPSX? The mutual funds below have the lowest correlation with FSPSX — 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 FSPSX.
Best Diversifiers for FSPSX
59 mutual funds have low correlation with FSPSX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Series Treasury Bill Index Fund (FHQFX) (Ultrashort Bond) with a 1Y correlation of 0.03, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Series Treasury Bill Index Fund | 0.03 | 0.01 | 0.02 | 100 | Ultrashort Bond | FSPSX vs FHQFX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | 0.07 | 0.03 | 0.02 | 97 | Municipal Bonds | FSPSX vs FGNSX | |
| Fidelity Flex Conservative Income Bond Fund | 0.08 | 0.08 | 0.05 | 99 | Total Bond Market | FSPSX vs FJTDX | |
| Fidelity Flex Conservative Income Municipal Bond F... | 0.09 | 0.06 | 0.06 | 98 | Municipal Bonds | FSPSX vs FUEMX | |
| Fidelity Series 0-5 Year Inflation-Protected Bond ... | 0.09 | 0.16 | — | 80 | Inflation-Protected Bonds | FSPSX vs FSTZX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSPSX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSPSX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.11, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.11 | 0.09 | 0.17 | 72 | Consumer Defensive | |
| ConocoPhillips Company | -0.11 | 0.05 | 0.20 | 65 | Energy | |
| Exxon Mobil Corporation | -0.10 | 0.08 | 0.22 | 72 | Energy | |
| Energy Transfer LP | -0.07 | 0.18 | 0.30 | 72 | Energy | |
| Chevron Corporation | -0.06 | 0.08 | 0.22 | 70 | Energy |
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Build a portfolio that complements FSPSX
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Analyze a portfolio with FSPSX