Looking to diversify beyond FAX? The mutual funds below have historically moved differently from FAX, 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 FAX
11 mutual funds have low correlation with FAX (below 0.3), 0 of which are negatively correlated. The least correlated is abrdn Ultra Short Municipal Income Fund (ATOIX) (Municipal Bonds) with a 1Y correlation of 0.08, roughly unchanged from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 0.08 | 0.03 | 0.03 | 100 | Municipal Bonds | FAX vs ATOIX | |
| abrdn Short Duration High Yield Municipal Fund | 0.14 | 0.13 | 0.14 | 82 | High Yield Muni | FAX vs AHYMX | |
| abrdn Realty Income & Growth Fund | 0.22 | 0.28 | 0.30 | 82 | REIT | FAX vs AIGYX | |
| abrdn Global Infrastructure Fund | 0.24 | 0.30 | 0.34 | 82 | Infrastructure Equities, Energy Equities | FAX vs AIFRX | |
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.25 | 0.21 | 0.19 | 98 | Emerging Markets Bonds | FAX vs DBLLX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FAX, 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 Abrdn Total Dynamic Dividend Fund (AOD) (Financial Services) with a 1Y correlation of 0.42, roughly unchanged from 0.41 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Abrdn Total Dynamic Dividend Fund | 0.42 | 0.41 | 0.41 | 88 | Financial Services |
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