Looking to diversify beyond AMDWX? The mutual funds below have historically moved differently from AMDWX, 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 AMDWX
1 mutual funds have low correlation with AMDWX (below 0.3), 0 of which are negatively correlated. The least correlated is Goldman Sachs GQG Partners International Opportunities Fund Class R6 (GSIYX) (Foreign Large Cap Equities) with a 1Y correlation of 0.26, down from 0.63 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs GQG Partners International Opportuni... | 0.26 | 0.54 | 0.63 | 56 | Foreign Large Cap Equities, Emerging Markets Equities | AMDWX vs GSIYX | |
| The Cook & Bynum Fund | 0.32 | 0.39 | 0.47 | 66 | Emerging Markets Equities | AMDWX vs COBYX | |
| Ashmore Emerging Markets Small Cap Equity Fund | 0.46 | 0.60 | 0.66 | 92 | Emerging Markets Equities | AMDWX vs ESCIX | |
| UBS Emerging Markets Equity Opportunity Fund | 0.56 | 0.58 | 0.63 | 77 | Emerging Markets Equities | AMDWX vs EMPTX | |
| Cullen Emerging Markets High Dividend Fund | 0.60 | 0.65 | 0.70 | 71 | Emerging Markets Equities | AMDWX vs CEMFX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AMDWX, 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 -0.17, down from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| McKesson Corporation | -0.17 | -0.11 | 0.03 | 67 | Healthcare | |
| Johnson & Johnson | -0.09 | -0.05 | 0.05 | 97 | Healthcare | |
| AbbVie Inc. | -0.09 | 0.04 | 0.08 | 81 | Healthcare | |
| MPLX LP | -0.07 | 0.14 | 0.26 | 79 | Energy | |
| Cisco Systems, Inc. | 0.33 | 0.36 | 0.44 | 93 | Technology |
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