Looking to diversify beyond FSPTX? The mutual funds below have the lowest correlation with FSPTX — 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 FSPTX.
Best Diversifiers for FSPTX
8 mutual funds have low correlation with FSPTX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.04, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.04 | 0.11 | 0.22 | 62 | Energy Equities | FSPTX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.00 | 0.03 | 0.09 | 90 | Inflation-Protected Bonds | FSPTX vs VTAPX | |
| Vanguard Short-Term Investment-Grade Fund Admiral ... | 0.10 | 0.06 | 0.09 | 68 | Total Bond Market | FSPTX vs VFSUX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.12 | 0.27 | 0.38 | 80 | Health & Biotech Equities | FSPTX vs FPHAX | |
| Fidelity Select Biotechnology Portfolio | 0.20 | 0.36 | 0.48 | 94 | Health & Biotech Equities | FSPTX vs FBIOX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSPTX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSPTX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.38, down from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.38 | -0.20 | -0.05 | 81 | Consumer Defensive | |
| Chubb Limited | -0.38 | -0.16 | 0.06 | 86 | Financial Services | |
| Waste Management, Inc. | -0.35 | -0.10 | 0.10 | 53 | Industrials | |
| Duke Energy Corporation | -0.35 | -0.23 | -0.09 | 66 | Utilities | |
| Verizon Communications Inc. | -0.34 | -0.18 | -0.04 | 57 | Communication Services |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FSPTX
Add FSPTX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FSPTX