Looking to diversify beyond ABALX? The mutual funds below have the lowest correlation with ABALX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from ABALX.
Best Diversifiers for ABALX
10 mutual funds have low correlation with ABALX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.06, down from 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.06 | 0.17 | 0.48 | 70 | Diversified Portfolio | ABALX vs MHELX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.13 | 0.23 | 0.27 | 84 | Inflation-Protected Bonds | ABALX vs VTAPX | |
| American High-Income Municipal Bond Fund | 0.23 | 0.23 | 0.20 | 77 | High Yield Muni | ABALX vs AMHIX | |
| American Funds Tax Exempt Bond Fund | 0.24 | 0.24 | 0.20 | 70 | Municipal Bonds | ABALX vs AFTEX | |
| American Funds Limited Term Tax-Exempt Bond Fund | 0.25 | 0.23 | 0.20 | 65 | Municipal Bonds | ABALX vs LTEBX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ABALX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ABALX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.17, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.17 | 0.03 | 0.16 | 72 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.16 | 0.05 | 0.20 | 72 | Energy | |
| Chevron Corporation | -0.15 | 0.10 | 0.27 | 70 | Energy | |
| ConocoPhillips Company | -0.15 | 0.08 | 0.23 | 65 | Energy | |
| The Coca-Cola Company | -0.11 | 0.07 | 0.24 | 74 | Consumer Defensive |
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