Looking to diversify beyond FAX? The mutual funds below have the lowest correlation with FAX — 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 FAX.
Best Diversifiers for FAX
17 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 0.05, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 0.05 | 0.03 | 0.03 | 99 | Municipal Bonds | FAX vs ATOIX | |
| abrdn Short Duration High Yield Municipal Fund | 0.12 | 0.14 | 0.14 | 73 | High Yield Muni | FAX vs AHYMX | |
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.23 | 0.20 | 0.18 | 98 | Emerging Markets Bonds | FAX vs DBLLX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.23 | 0.19 | 0.21 | 98 | Emerging Markets Bonds | FAX vs EIDOX | |
| abrdn Emerging Markets ex-China Fund | 0.24 | 0.29 | 0.33 | 89 | Emerging Markets Diversified | FAX vs GLLSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FAX and solid risk/return profiles. The least correlated is Abrdn Total Dynamic Dividend Fund (AOD) (Financial Services) with a 1Y correlation of 0.38, roughly unchanged from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Abrdn Total Dynamic Dividend Fund | 0.38 | 0.40 | 0.41 | 87 | Financial Services |
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