Looking to diversify beyond AWF? The mutual funds below have the lowest correlation with AWF — 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 AWF.
Best Diversifiers for AWF
23 mutual funds have low correlation with AWF (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.04 | 0.09 | 0.09 | 100 | High Yield Bonds | AWF vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.04 | 0.07 | 0.06 | 100 | High Yield Bonds | AWF vs CCLFX | |
| Pioneer Corporate High Yield Fund | 0.05 | 0.28 | 0.36 | 55 | High Yield Bonds | AWF vs RCRYX | |
| AB Municipal Bond Inflation Strategy | 0.11 | 0.16 | 0.18 | 94 | Municipal Bonds | AWF vs AUNYX | |
| RiverPark Short Term High Yield Fund | 0.11 | 0.12 | 0.14 | 100 | High Yield Bonds | AWF vs RPHIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AWF, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AWF and solid risk/return profiles. The least correlated is Antero Midstream Corporation (AM) (Energy) with a 1Y correlation of -0.07, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Antero Midstream Corporation | -0.07 | 0.19 | 0.26 | 65 | Energy | |
| Cohen & Steers Quality Income Realty Fund | 0.24 | 0.37 | 0.43 | 67 | Financial Services | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.29 | 0.35 | 0.37 | 78 | Financial Services |
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