Looking to diversify beyond FZILX? The mutual funds below have historically moved differently from FZILX, 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 FZILX
7 mutual funds have low correlation with FZILX (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 -0.03, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.03 | 0.21 | 0.34 | 87 | Energy Equities | FZILX vs FSENX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.09 | 0.05 | 0.04 | 99 | Ultrashort Bond | FZILX vs FCNVX | |
| Fidelity Series Commodity Strategy Fund | 0.11 | 0.24 | 0.30 | 70 | Commodities | FZILX vs FCSSX | |
| Fidelity SAI Low Duration Income Fund | 0.13 | 0.08 | 0.08 | 99 | Ultrashort Bond | FZILX vs FZOLX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.14 | 0.17 | 0.20 | 91 | Inflation-Protected Bonds | FZILX vs VTAPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FZILX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.24, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.24 | -0.01 | 0.10 | 66 | Consumer Defensive | |
| Chubb Limited | -0.16 | 0.06 | 0.21 | 87 | Financial Services | |
| Chevron Corporation | -0.16 | 0.07 | 0.23 | 79 | Energy | |
| ConocoPhillips Company | -0.15 | 0.04 | 0.20 | 73 | Energy | |
| Exxon Mobil Corporation | -0.14 | 0.08 | 0.22 | 85 | Energy |
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