Looking to diversify beyond FZIIX? The mutual funds below have the lowest correlation with FZIIX — 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 FZIIX.
Best Diversifiers for FZIIX
17 mutual funds have low correlation with FZIIX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.07, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.07 | 0.04 | 0.06 | 97 | Semiconductors, Technology Equities | FZIIX vs FSELX | |
| Fidelity Blue Chip Growth Fund | 0.12 | 0.10 | 0.10 | 75 | Large Cap Growth Equities | FZIIX vs FBGRX | |
| DFA NY Municipal Bond Portfolio | 0.15 | 0.32 | 0.42 | 99 | Municipal Bonds | FZIIX vs DNYMX | |
| Fidelity 500 Index Fund | 0.15 | 0.15 | 0.12 | 75 | S&P 500 | FZIIX vs FXAIX | |
| Fidelity ZERO Total Market Index Fund | 0.16 | 0.17 | 0.13 | 72 | Large Cap Blend Equities | FZIIX vs FZROX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FZIIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FZIIX and solid risk/return profiles. The least correlated is Petróleo Brasileiro S.A. - Petrobras (PBR) (Energy) with a 1Y correlation of -0.12, roughly unchanged from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Petróleo Brasileiro S.A. - Petrobras | -0.12 | -0.05 | -0.06 | 88 | Energy |
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