Looking to diversify beyond FKNIX? The mutual funds below have historically moved differently from FKNIX, 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 FKNIX
11 mutual funds have low correlation with FKNIX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Municipal Real Return Portfolio (DMREX) (Municipal Bonds) with a 1Y correlation of 0.06, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Municipal Real Return Portfolio | 0.06 | 0.22 | 0.25 | 94 | Municipal Bonds | FKNIX vs DMREX | |
| DFA Short Term Municipal Bond Portfolio | 0.22 | 0.27 | 0.38 | 100 | Municipal Bonds | FKNIX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.25 | 0.35 | 0.40 | 98 | Municipal Bonds | FKNIX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.25 | 0.32 | 0.42 | 99 | Municipal Bonds | FKNIX vs DNYMX | |
| Franklin Income Fund Advisor Class | 0.25 | 0.33 | 0.24 | 93 | Diversified Portfolio | FKNIX vs FRIAX |
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