Looking to diversify beyond FZIAX? The mutual funds below have historically moved differently from FZIAX, 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 FZIAX
12 mutual funds have low correlation with FZIAX (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 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.11 | 0.07 | 0.07 | 80 | Semiconductors, Technology Equities | FZIAX vs FSELX | |
| abrdn Ultra Short Municipal Income Fund | 0.22 | 0.27 | 0.28 | 100 | Municipal Bonds | FZIAX vs ATOIX | |
| Fidelity ZERO Large Cap Index Fund | 0.23 | 0.18 | 0.13 | 59 | Large Cap Blend Equities | FZIAX vs FNILX | |
| DFA NY Municipal Bond Portfolio | 0.23 | 0.33 | 0.42 | 99 | Municipal Bonds | FZIAX vs DNYMX | |
| Fidelity 500 Index Fund | 0.24 | 0.17 | 0.13 | 64 | S&P 500 | FZIAX vs FXAIX |
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