Looking to diversify beyond FKDNX? The mutual funds below have the lowest correlation with FKDNX — 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 FKDNX.
Best Diversifiers for FKDNX
51 mutual funds have low correlation with FKDNX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Federal Intermediate-Term Tax-Free Income Fund (FKITX) (Municipal Bonds) with a 1Y correlation of 0.11, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Federal Intermediate-Term Tax-Free Income... | 0.11 | 0.09 | 0.10 | 71 | Municipal Bonds | FKDNX vs FKITX | |
| Western Asset Pennsylvania Municipals Fund | 0.11 | 0.08 | 0.10 | 81 | Municipal Bonds | FKDNX vs SBPAX | |
| Western Asset Short Duration Municipal Income Fund | 0.11 | 0.06 | 0.08 | 75 | Municipal Bonds | FKDNX vs SHDAX | |
| Franklin Virginia Tax Free Income Fund | 0.12 | 0.08 | 0.11 | 74 | Municipal Bonds | FKDNX vs FRVAX | |
| Franklin Pennsylvania Tax-Free Income Fund | 0.12 | 0.09 | 0.11 | 67 | Municipal Bonds | FKDNX vs FRPAX |
See all 130 diversifiers for FKDNX
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