Looking to diversify beyond ALFAX? The mutual funds below have historically moved differently from ALFAX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
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 Short Duration Income Fund (LALDX) (Short-Term Bond) with a 1Y correlation of 0.14, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lord Abbett Short Duration Income Fund | 0.14 | 0.17 | 0.15 | 78 | Short-Term Bond | ALFAX vs LALDX | |
| Lord Abbett Ultra Short Bond Fund | 0.15 | 0.12 | 0.09 | 99 | Ultrashort Bond | ALFAX vs LUBYX | |
| Lord Abbett Short Duration Income Fund | 0.22 | 0.13 | 0.13 | 88 | Total Bond Market | ALFAX vs LLDYX | |
| Vanguard Short-Term Bond Index Fund Institutional ... | 0.22 | 0.15 | 0.14 | 56 | Total Bond Market | ALFAX vs VBITX | |
| Federated Hermes MDT Small Cap Growth Fund | 0.46 | 0.65 | 0.80 | 71 | Small Cap Growth Equities | ALFAX vs QISGX |
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