Looking to diversify beyond AMAGX? The mutual funds below have historically moved differently from AMAGX, 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 AMAGX
4 mutual funds have low correlation with AMAGX (below 0.3), 2 of which are negatively correlated. The least correlated is Voya Corporate Leaders Trust Fund (LEXCX) (Large Cap Value Equities) with a 1Y correlation of -0.16, down from 0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Voya Corporate Leaders Trust Fund | -0.16 | 0.18 | 0.38 | 93 | Large Cap Value Equities | AMAGX vs LEXCX | |
| Fidelity Select Energy Portfolio | -0.12 | 0.11 | 0.22 | 87 | Energy Equities | AMAGX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.04 | 0.05 | 0.12 | 91 | Inflation-Protected Bonds | AMAGX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.26 | 0.29 | 0.30 | 95 | Bank Loan | AMAGX vs FFRHX | |
| Azzad Wise Capital Fund | 0.33 | 0.39 | 0.53 | 67 | Short-Term Bond | AMAGX vs WISEX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AMAGX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.31, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.31 | -0.12 | 0.05 | 56 | Utilities | |
| Altria Group, Inc. | -0.29 | -0.08 | 0.03 | 66 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.27 | -0.06 | 0.07 | 84 | Energy | |
| Occidental Petroleum Corporation | -0.26 | -0.02 | 0.11 | 70 | Energy | |
| Chevron Corporation | -0.26 | -0.04 | 0.10 | 80 | Energy |
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