Looking to diversify beyond AMANX? The mutual funds below have historically moved differently from AMANX, 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 AMANX
1 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 0.18, roughly unchanged from 0.13 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 | 0.18 | 0.16 | 0.13 | 78 | Short-Term Bond | AMANX vs LALDX | |
| Federated Hermes MDT All Cap Core Fund Class R6 | 0.30 | 0.50 | 0.66 | 50 | Large Cap Blend Equities | AMANX vs QKACX | |
| Federated Hermes MDT All Cap Core Fund | 0.30 | 0.50 | 0.66 | 53 | Large Cap Blend Equities | AMANX vs QIACX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.35 | 0.16 | 0.15 | 97 | Large Cap Blend Equities | AMANX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.44 | 0.32 | 0.36 | 59 | Preferred Stock | AMANX vs ORDNX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AMANX, 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 McKesson Corporation (MCK) (Healthcare) with a 1Y correlation of 0.07, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| McKesson Corporation | 0.07 | 0.12 | 0.25 | 67 | Healthcare | |
| AbbVie Inc. | 0.14 | 0.27 | 0.34 | 81 | Healthcare | |
| Johnson & Johnson | 0.15 | 0.19 | 0.33 | 97 | Healthcare | |
| Cisco Systems, Inc. | 0.34 | 0.45 | 0.57 | 93 | Technology | |
| Carpenter Technology Corporation | 0.43 | 0.42 | 0.46 | 94 | Industrials |
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