Looking to diversify beyond AMCPX? The mutual funds below have historically moved differently from AMCPX, 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 AMCPX
10 mutual funds have low correlation with AMCPX (below 0.3), 0 of which are negatively correlated. The least correlated is American High-Income Municipal Bond Fund (AMHIX) (High Yield Muni) with a 1Y correlation of 0.23, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American High-Income Municipal Bond Fund | 0.23 | 0.16 | 0.15 | 89 | High Yield Muni | AMCPX vs AMHIX | |
| American Funds Tax Exempt Bond Fund | 0.25 | 0.16 | 0.16 | 75 | Municipal Bonds | AMCPX vs AFTEX | |
| MFS California Municipal Bond Fund | 0.25 | 0.18 | 0.16 | 75 | Municipal Bonds | AMCPX vs MCFTX | |
| American Funds Tax-Exempt Preservation Portfolio | 0.26 | 0.17 | 0.13 | 61 | Municipal Bonds | AMCPX vs TEPAX | |
| American Funds Tax-Exempt Fund of New York | 0.27 | 0.16 | 0.15 | 82 | Municipal Bonds | AMCPX vs NYAAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AMCPX, 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 Visa Inc. (V) (Financial Services) with a 1Y correlation of 0.26, down from 0.53 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Visa Inc. | 0.26 | 0.40 | 0.53 | 53 | Financial Services |
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