Looking to diversify beyond ANCFX? The mutual funds below have historically moved differently from ANCFX, 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 ANCFX
8 mutual funds have low correlation with ANCFX (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 0.20, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American High-Income Municipal Bond Fund | 0.20 | 0.15 | 0.13 | 81 | High Yield Muni | ANCFX vs AMHIX | |
| American Funds Tax Exempt Bond Fund | 0.22 | 0.14 | 0.13 | 65 | Municipal Bonds | ANCFX vs AFTEX | |
| MFS California Municipal Bond Fund | 0.22 | 0.17 | 0.14 | 66 | Municipal Bonds | ANCFX vs MCFTX | |
| American Funds Tax-Exempt Preservation Portfolio | 0.23 | 0.16 | 0.12 | 57 | Municipal Bonds | ANCFX vs TEPAX | |
| American Funds Short-Term Tax Exempt Bond Fund | 0.24 | 0.13 | 0.09 | 62 | Municipal Bonds | ANCFX 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 ANCFX, 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 The Allstate Corporation (ALL) (Financial Services) with a 1Y correlation of -0.20, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | -0.20 | 0.07 | 0.24 | 83 | Financial Services | |
| NextEra Energy, Inc. | 0.08 | 0.15 | 0.30 | 77 | Utilities | |
| Visa Inc. | 0.15 | 0.36 | 0.51 | 55 | Financial Services | |
| JPMorgan Chase & Co. | 0.40 | 0.46 | 0.55 | 73 | Financial Services | |
| Alphabet Inc. Class A | 0.58 | 0.56 | 0.64 | 96 | Communication Services |
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