Looking to diversify beyond FCAVX? The mutual funds below have historically moved differently from FCAVX, 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 FCAVX
10 mutual funds have low correlation with FCAVX (below 0.3), 0 of which are negatively correlated. The least correlated is JPMorgan Ultra-Short Municipal Fund (USMSX) (Municipal Bonds) with a 1Y correlation of 0.19, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Ultra-Short Municipal Fund | 0.19 | 0.32 | 0.37 | 98 | Municipal Bonds | FCAVX vs USMSX | |
| DFA Short Term Municipal Bond Portfolio | 0.23 | 0.27 | 0.36 | 100 | Municipal Bonds | FCAVX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.23 | 0.29 | — | 100 | Municipal Bonds | FCAVX vs DFABX | |
| Franklin Income Fund Advisor Class | 0.24 | 0.31 | 0.24 | 93 | Diversified Portfolio | FCAVX vs FRIAX | |
| abrdn Ultra Short Municipal Income Fund | 0.24 | 0.29 | 0.29 | 100 | Municipal Bonds | FCAVX vs ATOIX |
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