Looking to diversify beyond FUMBX? The mutual funds below have historically moved differently from FUMBX, 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 FUMBX
21 mutual funds have low correlation with FUMBX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.01, roughly unchanged from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.01 | -0.02 | 0.00 | 80 | Semiconductors, Technology Equities | FUMBX vs FSELX | |
| Fidelity Floating Rate High Income Fund | 0.04 | 0.07 | 0.07 | 93 | Bank Loan | FUMBX vs FFRHX | |
| GuidePath Absolute Return Allocation Fund | 0.07 | 0.52 | 0.61 | 65 | Short-Term Bond | FUMBX vs GPARX | |
| Fidelity Strategic Real Return Fund | 0.08 | 0.23 | 0.22 | 95 | Diversified Portfolio | FUMBX vs FSRRX | |
| Leader Short Term High Yield Bond Fund | 0.13 | 0.12 | 0.16 | 77 | Short-Term Bond | FUMBX vs LCCMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FUMBX, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.04, roughly unchanged from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.04 | -0.06 | -0.02 | 61 | Technology | |
| AbbVie Inc. | 0.12 | 0.08 | 0.06 | 76 | Healthcare | |
| Apple Inc | 0.14 | 0.08 | 0.06 | 90 | Technology | |
| Amazon.com, Inc | 0.17 | 0.04 | 0.07 | 72 | Consumer Cyclical |
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