Minimizing risk with my 401K

Right now, I have six funds, all with Fidelity. These funds include three stock funds, two balanced, and one short-term investment. With these funds, I am trying to reduce my risk by diversifying my portfolio by having six different types of funds and future contributions, which are equally dispersed by 17% except for the cash reserve, which only receives 15% of the distribution. The hope is to make sure if one fund does well and another one does poorly, they will equally balance each other out at the end of the year when they are rebalanced.