Looking to diversify beyond FSPSX? The mutual funds below have historically moved differently from FSPSX, 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 FSPSX
39 mutual funds have low correlation with FSPSX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity SAI Inflation-Focused (FIFGX) (Commodities) with a 1Y correlation of -0.19, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity SAI Inflation-Focused | -0.19 | 0.02 | 0.17 | 78 | Commodities | FSPSX vs FIFGX | |
| Fidelity Select Energy Portfolio | -0.04 | 0.18 | 0.31 | 87 | Energy Equities | FSPSX vs FSENX | |
| Fidelity Series Treasury Bill Index Fund | 0.02 | 0.00 | 0.02 | 100 | Ultrashort Bond | FSPSX vs FHQFX | |
| Fidelity Series Commodity Strategy Fund | 0.07 | 0.18 | 0.25 | 70 | Commodities | FSPSX vs FCSSX | |
| Fidelity Commodity Strategy Fund | 0.09 | 0.18 | 0.26 | 68 | Commodities | FSPSX vs FYHTX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSPSX, 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 -0.17, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.17 | 0.04 | 0.14 | 66 | Consumer Defensive | |
| ConocoPhillips Company | -0.16 | 0.02 | 0.18 | 73 | Energy | |
| Devon Energy Corporation | -0.16 | 0.09 | 0.24 | 78 | Energy | |
| Occidental Petroleum Corporation | -0.15 | 0.07 | 0.20 | 68 | Energy | |
| Chevron Corporation | -0.15 | 0.07 | 0.22 | 79 | Energy |
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