Looking to diversify beyond FZOMX? The mutual funds below have historically moved differently from FZOMX, 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 FZOMX
11 mutual funds have low correlation with FZOMX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.04, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.04 | -0.02 | 0.01 | 80 | Semiconductors, Technology Equities | FZOMX vs FSELX | |
| GuidePath Absolute Return Allocation Fund | 0.10 | 0.45 | 0.55 | 65 | Short-Term Bond | FZOMX vs GPARX | |
| Leader Short Term High Yield Bond Fund | 0.12 | 0.16 | 0.20 | 77 | Short-Term Bond | FZOMX vs LCCMX | |
| DFA Two-Year Fixed Income Portfolio | 0.14 | -0.00 | 0.34 | 100 | Short-Term Bond | FZOMX vs DFCFX | |
| GuidepathConservative Income Fund | 0.21 | 0.33 | 0.40 | 99 | Short-Term Bond | FZOMX vs GPICX |
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