Looking to diversify beyond ALNVX? The mutual funds below have historically moved differently from ALNVX, 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 ALNVX
10 mutual funds have low correlation with ALNVX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Short Term Municipal Bond Portfolio (DFSMX) (Municipal Bonds) with a 1Y correlation of 0.21, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.21 | 0.28 | 0.35 | 100 | Municipal Bonds | ALNVX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.23 | 0.33 | 0.37 | 98 | Municipal Bonds | ALNVX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.24 | 0.34 | 0.41 | 98 | Municipal Bonds | ALNVX vs USMTX | |
| DFA NY Municipal Bond Portfolio | 0.25 | 0.32 | 0.40 | 99 | Municipal Bonds | ALNVX vs DNYMX | |
| Federated Hermes Conservative Municipal Microshort... | 0.26 | 0.18 | 0.13 | 99 | Municipal Bonds | ALNVX vs FHMIX |
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