Looking to diversify beyond FSPTX? The mutual funds below have historically moved differently from FSPTX, 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 FSPTX
12 mutual funds have low correlation with FSPTX (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 -0.04, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.04 | 0.11 | 0.21 | 87 | Energy Equities | FSPTX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.01 | 0.01 | 0.09 | 91 | Inflation-Protected Bonds | FSPTX vs VTAPX | |
| Fidelity Select Health Care Services Portfolio | 0.07 | 0.09 | 0.27 | 68 | Health & Biotech Equities | FSPTX vs FSHCX | |
| Vanguard Short-Term Investment-Grade Fund Admiral ... | 0.11 | 0.05 | 0.09 | 74 | Total Bond Market | FSPTX vs VFSUX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.12 | 0.27 | 0.37 | 90 | Health & Biotech Equities | FSPTX vs FPHAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSPTX, 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 -0.42, down from -0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.42 | -0.22 | -0.07 | 66 | Consumer Defensive | |
| Chubb Limited | -0.40 | -0.17 | 0.04 | 89 | Financial Services | |
| Duke Energy Corporation | -0.40 | -0.27 | -0.10 | 56 | Utilities | |
| The Coca-Cola Company | -0.37 | -0.20 | 0.02 | 90 | Consumer Defensive | |
| PepsiCo, Inc. | -0.36 | -0.16 | 0.03 | 50 | Consumer Defensive |
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