Looking to diversify beyond FASEX? The mutual funds below have historically moved differently from FASEX, 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 FASEX
34 mutual funds have low correlation with FASEX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Short Term Municipal Bond Fund (FSHYX) (Municipal Bonds) with a 1Y correlation of 0.15, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Short Term Municipal Bond Fund | 0.15 | 0.13 | 0.08 | 66 | Municipal Bonds | FASEX vs FSHYX | |
| Nuveen Nebraska Municipal Bond Fund | 0.16 | 0.13 | 0.09 | 78 | Municipal Bonds | FASEX vs FNTYX | |
| Nuveen Louisiana Municipal Bond Fund | 0.18 | 0.13 | 0.09 | 79 | Municipal Bonds | FASEX vs FTLAX | |
| Nuveen Kentucky Municipal Bond Fund | 0.19 | 0.14 | 0.08 | 69 | Municipal Bonds | FASEX vs FKYTX | |
| Nuveen Colorado Municipal Bond Fund | 0.19 | 0.13 | 0.09 | 86 | Municipal Bonds | FASEX vs FCOTX |
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