Looking to diversify beyond FZROX? The mutual funds below have historically moved differently from FZROX, 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 FZROX
89 mutual funds have low correlation with FZROX (below 0.3), 3 of which are negatively correlated. The least correlated is Fidelity SAI Inflation-Focused (FIFGX) (Commodities) with a 1Y correlation of -0.17, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity SAI Inflation-Focused | -0.17 | 0.02 | 0.14 | 79 | Commodities | FZROX vs FIFGX | |
| Fidelity Select Energy Portfolio | -0.08 | 0.21 | 0.34 | 87 | Energy Equities | FZROX vs FSENX | |
| Vanguard Market Neutral Fund Investor Shares | -0.01 | -0.02 | -0.04 | 97 | Long-Short | FZROX vs VMNFX | |
| Fidelity Commodity Strategy Fund | 0.00 | 0.10 | 0.18 | 70 | Commodities | FZROX vs FYHTX | |
| Fidelity Series Commodity Strategy Fund | 0.02 | 0.11 | 0.19 | 73 | Commodities | FZROX vs FCSSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FZROX, 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 -0.28, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.28 | -0.02 | 0.12 | 66 | Consumer Defensive | |
| Duke Energy Corporation | -0.23 | -0.03 | 0.11 | 56 | Utilities | |
| Chevron Corporation | -0.23 | 0.05 | 0.22 | 80 | Energy | |
| Occidental Petroleum Corporation | -0.21 | 0.06 | 0.21 | 70 | Energy | |
| Exxon Mobil Corporation | -0.21 | 0.04 | 0.20 | 84 | Energy |
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