Looking to diversify beyond FXIFX? The mutual funds below have historically moved differently from FXIFX, 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 FXIFX
2 mutual funds have low correlation with FXIFX (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 -0.10, down from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.10 | 0.18 | 0.30 | 87 | Energy Equities | FXIFX vs FSENX | |
| T. Rowe Price Ultra Short-Term Bond Fund | 0.25 | 0.12 | 0.14 | 98 | Ultrashort Bond | FXIFX vs TRBUX | |
| Fidelity Equity Dividend Income Fund | 0.55 | 0.64 | 0.73 | 60 | Large Cap Value Equities | FXIFX vs FEQTX | |
| Vanguard Wellesley Income Fund Admiral Shares | 0.72 | 0.77 | 0.80 | 70 | Diversified Portfolio | FXIFX vs VWIAX | |
| Fidelity Stock Selector Large Cap Value Fund | 0.72 | 0.74 | 0.79 | 89 | Large Cap Value Equities | FXIFX vs FSLVX |
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