The stars play love interests in the thriller White Bird in a Blizzard, which premiered at the Sundance Film Festival in January (14), a year after they were allegedly spotted kissing at the 2013 event in Utah.
But Woodley, 22, claims the romance reports are unfounded, because she has actually been single for four years.
When quizzed about her rumoured relationship with Fernandez by America's Marie Claire magazine, she says, "Oh, no, God! Shiloh's my buddy. You take a picture with somebody and all of a sudden you're dating. That's so funny."
Explaining her single status and her thoughts about a lifetime of monogamy, the Divergent star adds, "I just haven't met anyone where I was like, 'Wow, I could definitely see myself spending a season of my life with you.' I don't even know if humans are genetically made to be with one person forever."