Looking to diversify beyond FZILX? The mutual funds below have the lowest correlation with FZILX — 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 FZILX.
Best Diversifiers for FZILX
5 mutual funds have low correlation with FZILX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Conservative Income Bond Institutional Class (FCNVX) (Total Bond Market) with a 1Y correlation of 0.08, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Conservative Income Bond Institutional Cl... | 0.08 | 0.04 | 0.03 | 99 | Total Bond Market | FZILX vs FCNVX | |
| Fidelity SAI Low Duration Income Fund | 0.12 | 0.08 | 0.07 | 99 | Ultrashort Bond | FZILX vs FZOLX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.12 | 0.19 | 0.19 | 84 | Inflation-Protected Bonds | FZILX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.24 | 0.27 | 0.35 | 92 | Bank Loan | FZILX vs FFRHX | |
| Fidelity Intermediate Municipal Income Fund | 0.25 | 0.22 | 0.19 | 64 | Municipal Bonds | FZILX vs FLTMX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FZILX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FZILX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.14, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.14 | 0.06 | 0.15 | 72 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.09 | 0.09 | 0.22 | 72 | Energy | |
| ConocoPhillips Company | -0.08 | 0.08 | 0.22 | 65 | Energy | |
| Duke Energy Corporation | -0.07 | 0.06 | 0.12 | 62 | Utilities | |
| Chubb Limited | -0.05 | 0.09 | 0.23 | 69 | Financial Services |
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Build a portfolio that complements FZILX
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Analyze a portfolio with FZILX