Looking to diversify beyond AMANX? The mutual funds below have the lowest correlation with AMANX — 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 AMANX.
Best Diversifiers for AMANX
3 mutual funds have low correlation with AMANX (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 0.16, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lord Abbett Short Duration Income Fund | 0.16 | 0.16 | 0.13 | 76 | Short-Term Bond | AMANX vs LALDX | |
| Federated Hermes MDT All Cap Core Fund | 0.25 | 0.49 | 0.66 | 51 | Large Cap Blend Equities | AMANX vs QIACX | |
| Federated Hermes MDT All Cap Core Fund Class R6 | 0.25 | 0.49 | 0.66 | 51 | Large Cap Blend Equities | AMANX vs QKACX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.37 | 0.17 | 0.15 | 95 | Large Cap Blend Equities | AMANX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.44 | 0.32 | 0.36 | 69 | Large Cap Blend Equities | AMANX vs ORDNX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMANX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMANX and solid risk/return profiles. The least correlated is McKesson Corporation (MCK) (Healthcare) with a 1Y correlation of 0.06, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| McKesson Corporation | 0.06 | 0.11 | 0.25 | 58 | Healthcare | |
| AbbVie Inc. | 0.15 | 0.26 | 0.34 | 77 | Healthcare | |
| Johnson & Johnson | 0.16 | 0.19 | 0.33 | 97 | Healthcare | |
| Cisco Systems, Inc. | 0.34 | 0.44 | 0.57 | 94 | Technology | |
| Carpenter Technology Corporation | 0.45 | 0.43 | 0.46 | 93 | Industrials |
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