Looking to diversify beyond FSSMX? The mutual funds below have historically moved differently from FSSMX, 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 FSSMX
0 mutual funds have low correlation with FSSMX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Series Emerging Markets Debt Fund (FEDCX) (Emerging Markets Bonds) with a 1Y correlation of 0.38, roughly unchanged from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Series Emerging Markets Debt Fund | 0.38 | 0.33 | 0.33 | 85 | Emerging Markets Bonds | FSSMX vs FEDCX | |
| T. Rowe Price New Era Fund | 0.49 | 0.60 | 0.69 | 76 | Energy Equities | FSSMX vs PRNEX | |
| Fidelity OTC Portfolio | 0.63 | 0.61 | 0.71 | 72 | Large Cap Growth Equities | FSSMX vs FOCPX | |
| Fidelity Select Semiconductors Portfolio | 0.65 | 0.60 | 0.67 | 80 | Semiconductors, Technology Equities | FSSMX vs FSELX | |
| Fidelity International Value Fund | 0.66 | 0.67 | 0.72 | 72 | Foreign Large Cap Equities | FSSMX vs FIVLX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSSMX, 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 Fomento Económico Mexicano, S.A.B. de C.V. (FMX) (Consumer Defensive) with a 1Y correlation of 0.22, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fomento Económico Mexicano, S.A.B. de C.V. | 0.22 | 0.28 | 0.35 | 92 | Consumer Defensive |
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