Looking to diversify beyond AMCPX? The mutual funds below have the lowest correlation with AMCPX — 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 AMCPX.
Best Diversifiers for AMCPX
9 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 0.19, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American High-Income Municipal Bond Fund | 0.19 | 0.16 | 0.15 | 77 | High Yield Muni | AMCPX vs AMHIX | |
| American Funds Tax Exempt Bond Fund | 0.22 | 0.16 | 0.15 | 70 | Municipal Bonds | AMCPX vs AFTEX | |
| American Funds Limited Term Tax-Exempt Bond Fund | 0.23 | 0.15 | 0.14 | 65 | Municipal Bonds | AMCPX vs LTEBX | |
| American Funds Tax-Exempt Fund of New York | 0.23 | 0.18 | 0.14 | 73 | Municipal Bonds | AMCPX vs NYAAX | |
| American Funds Tax-Exempt Fund of California | 0.23 | 0.16 | 0.14 | 69 | Municipal Bonds | AMCPX vs TAFTX |
See all 117 diversifiers for AMCPX
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