Looking to diversify beyond AMECX? The mutual funds below have the lowest correlation with AMECX — 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 AMECX.
Best Diversifiers for AMECX
11 mutual funds have low correlation with AMECX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.04, down from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.17 | 0.46 | 70 | Diversified Portfolio | AMECX vs MHELX | |
| Fidelity Floating Rate High Income Fund | 0.16 | 0.27 | 0.34 | 92 | Bank Loan | AMECX vs FFRHX | |
| American Funds Tax-Exempt Preservation Portfolio | 0.19 | 0.23 | 0.17 | 67 | Municipal Bonds | AMECX vs TEPAX | |
| American Funds Short-Term Tax Exempt Bond Fund | 0.20 | 0.21 | 0.14 | 76 | Municipal Bonds | AMECX vs ASTEX | |
| American High-Income Municipal Bond Fund | 0.22 | 0.24 | 0.18 | 77 | High Yield Muni | AMECX vs AMHIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMECX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMECX and solid risk/return profiles. The least correlated is FLEX LNG Ltd (FLNG) (Energy) with a 1Y correlation of 0.06, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| FLEX LNG Ltd | 0.06 | 0.23 | 0.28 | 86 | Energy | |
| Chevron Corporation | 0.11 | 0.30 | 0.42 | 70 | Energy | |
| Western Midstream Partners, LP | 0.17 | 0.34 | 0.44 | 74 | Energy | |
| Enterprise Products Partners L.P. | 0.18 | 0.38 | 0.46 | 85 | Energy | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.25 | 0.34 | 0.33 | 79 | Financial Services |
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