Looking to diversify beyond FYBTX? The mutual funds below have historically moved differently from FYBTX, 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 FYBTX
7 mutual funds have low correlation with FYBTX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.06, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.06 | -0.01 | 0.02 | 80 | Semiconductors, Technology Equities | FYBTX vs FSELX | |
| Fidelity ZERO Large Cap Index Fund | 0.21 | 0.15 | 0.12 | 54 | Large Cap Blend Equities | FYBTX vs FNILX | |
| Fidelity 500 Index Fund | 0.22 | 0.14 | 0.11 | 59 | S&P 500 | FYBTX vs FXAIX | |
| Fidelity ZERO Total Market Index Fund | 0.23 | 0.16 | 0.12 | 59 | Large Cap Blend Equities | FYBTX vs FZROX | |
| Fidelity Total Market Index Fund | 0.23 | 0.14 | 0.12 | 58 | Large Cap Blend Equities | FYBTX vs FSKAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FYBTX, 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 Robert Half International Inc. (RHI) (Industrials) with a 1Y correlation of 0.01, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Robert Half International Inc. | 0.01 | 0.02 | 0.01 | 56 | Industrials |
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