Looking to diversify beyond AMRMX? The mutual funds below have the lowest correlation with AMRMX — 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 AMRMX.
Best Diversifiers for AMRMX
5 mutual funds have low correlation with AMRMX (below 0.3), 1 of which are negatively correlated. The least correlated is BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) (Tactical Allocation) with a 1Y correlation of -0.02, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund Institutiona... | -0.02 | 0.20 | 0.16 | 81 | Tactical Allocation | AMRMX vs PBAIX | |
| MFS California Municipal Bond Fund | 0.23 | 0.20 | 0.14 | 69 | Municipal Bonds | AMRMX vs MCFTX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.23 | 0.12 | 0.10 | 94 | Long-Short | AMRMX vs BDMIX | |
| American Funds Tax-Exempt Fund of California | 0.24 | 0.18 | 0.12 | 69 | Municipal Bonds | AMRMX vs TAFTX | |
| Franklin California Tax Free Income Fund | 0.27 | 0.19 | 0.12 | 67 | Municipal Bonds | AMRMX vs FKTFX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMRMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMRMX and solid risk/return profiles. The least correlated is The Allstate Corporation (ALL) (Financial Services) with a 1Y correlation of 0.19, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | 0.19 | 0.33 | 0.45 | 70 | Financial Services | |
| Advanced Micro Devices, Inc. | 0.37 | 0.41 | 0.45 | 96 | Technology | |
| Alphabet Inc. Class A | 0.39 | 0.37 | 0.48 | 96 | Communication Services | |
| JPMorgan Chase & Co. | 0.54 | 0.58 | 0.64 | 68 | Financial Services |
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