Looking to diversify beyond ALCAX? The mutual funds below have the lowest correlation with ALCAX — 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 ALCAX.
Best Diversifiers for ALCAX
11 mutual funds have low correlation with ALCAX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.05, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.05 | 0.16 | 0.22 | 96 | Municipal Bonds | ALCAX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.01 | 0.18 | 0.21 | 95 | Municipal Bonds | ALCAX vs DMREX | |
| DFA Short Term Municipal Bond Portfolio | 0.16 | 0.27 | 0.35 | 99 | Municipal Bonds | ALCAX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.17 | 0.31 | 0.37 | 99 | Municipal Bonds | ALCAX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.18 | 0.32 | 0.41 | 99 | Municipal Bonds | ALCAX vs DNYMX |
See all 24 diversifiers for ALCAX
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