Looking to diversify beyond AMECX? The mutual funds below have historically moved differently from AMECX, 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 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 0.06, down from 0.45 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.06 | 0.16 | 0.45 | 68 | Diversified Portfolio | AMECX vs MHELX | |
| Fidelity Floating Rate High Income Fund | 0.15 | 0.26 | 0.33 | 93 | Bank Loan | AMECX vs FFRHX | |
| SEI Institutional Managed Trust Multi-Asset Inflat... | 0.17 | 0.23 | 0.32 | 83 | Diversified Portfolio | AMECX vs SIFAX | |
| American Funds Tax-Exempt Preservation Portfolio | 0.18 | 0.22 | 0.17 | 57 | Municipal Bonds | AMECX vs TEPAX | |
| American Funds Short-Term Tax Exempt Bond Fund | 0.19 | 0.20 | 0.15 | 62 | Municipal Bonds | AMECX vs ASTEX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AMECX, 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 FLEX LNG Ltd (FLNG) (Energy) with a 1Y correlation of 0.07, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| FLEX LNG Ltd | 0.07 | 0.22 | 0.27 | 83 | Energy | |
| Chevron Corporation | 0.10 | 0.28 | 0.40 | 79 | Energy | |
| Enterprise Products Partners L.P. | 0.16 | 0.36 | 0.45 | 89 | Energy | |
| Western Midstream Partners, LP | 0.18 | 0.33 | 0.43 | 82 | Energy | |
| MPLX LP | 0.24 | 0.38 | 0.46 | 82 | Energy |
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