Looking to diversify beyond ALFAX? The mutual funds below have the lowest correlation with ALFAX — 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 ALFAX.
Best Diversifiers for ALFAX
4 mutual funds have low correlation with ALFAX (below 0.3), 0 of which are negatively correlated. The least correlated is Lord Abbett Ultra Short Bond Fund (LUBYX) (Ultrashort Bond) with a 1Y correlation of 0.09, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lord Abbett Ultra Short Bond Fund | 0.09 | 0.11 | 0.08 | 98 | Ultrashort Bond | ALFAX vs LUBYX | |
| Lord Abbett Short Duration Income Fund | 0.14 | 0.17 | 0.14 | 69 | Short-Term Bond | ALFAX vs LALDX | |
| Lord Abbett Short Duration Income Fund | 0.20 | 0.12 | 0.13 | 77 | Total Bond Market | ALFAX vs LLDYX | |
| Federated Hermes MDT Small Cap Growth Fund | 0.30 | 0.65 | 0.79 | 66 | Small Cap Growth Equities | ALFAX vs QISGX | |
| Lord Abbett High Yield Fund | 0.54 | 0.58 | 0.58 | 69 | High Yield Bonds | ALFAX vs LHYAX |
See all 34 diversifiers for ALFAX
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