Looking to diversify beyond FTKFX? The mutual funds below have the lowest correlation with FTKFX — 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 FTKFX.
Best Diversifiers for FTKFX
6 mutual funds have low correlation with FTKFX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.11, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.11 | 0.08 | 0.09 | 89 | Semiconductors, Technology Equities | FTKFX vs FSELX | |
| JPMorgan Strategic Income Opportunities Fund Class... | 0.19 | -0.21 | -0.26 | 99 | Total Bond Market | FTKFX vs JSOSX | |
| Fidelity Blue Chip Growth Fund | 0.22 | 0.15 | 0.14 | 56 | Large Cap Growth Equities | FTKFX vs FBGRX | |
| American Funds New World Fund® Class R-6 | 0.27 | 0.20 | 0.18 | 51 | Emerging Markets Diversified | FTKFX vs RNWGX | |
| DFA U.S. Targeted Value Portfolio Institutional Cl... | 0.29 | 0.22 | 0.13 | 75 | Small Cap Value Equities | FTKFX vs DFFVX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FTKFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FTKFX and solid risk/return profiles. The least correlated is Realty Income Corporation (O) (Real Estate) with a 1Y correlation of 0.19, roughly unchanged from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | 0.19 | 0.32 | 0.27 | 78 | Real Estate | |
| QUALCOMM Incorporated | 0.20 | 0.12 | 0.11 | 54 | Technology |
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