Looking to diversify beyond AMAGX? The mutual funds below have the lowest correlation with AMAGX — 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 AMAGX.
Best Diversifiers for AMAGX
2 mutual funds have low correlation with AMAGX (below 0.3), 1 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of -0.02, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | -0.02 | 0.05 | 0.12 | 89 | Inflation-Protected Bonds | AMAGX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.26 | 0.28 | 0.30 | 92 | Bank Loan | AMAGX vs FFRHX | |
| River Canyon Total Return Bond Fund | 0.33 | 0.17 | 0.19 | 73 | Short-Term Bond | AMAGX vs RCTIX | |
| Azzad Wise Capital Fund | 0.34 | 0.40 | 0.54 | 67 | Short-Term Bond | AMAGX vs WISEX | |
| ARK Venture Fund | 0.41 | 0.53 | — | 99 | Technology Equities | AMAGX vs ARKVX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMAGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMAGX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.28, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.28 | -0.08 | 0.05 | 70 | Consumer Defensive | |
| Duke Energy Corporation | -0.25 | -0.08 | 0.05 | 62 | Utilities | |
| Exxon Mobil Corporation | -0.23 | -0.04 | 0.08 | 68 | Energy | |
| The Coca-Cola Company | -0.23 | -0.01 | 0.17 | 74 | Consumer Defensive | |
| ConocoPhillips Company | -0.21 | -0.00 | 0.10 | 61 | Energy |
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