Looking to diversify beyond FKNIX? The mutual funds below have the lowest correlation with FKNIX — 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 FKNIX.
Best Diversifiers for FKNIX
9 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 0.08, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Municipal Real Return Portfolio | 0.08 | 0.23 | 0.25 | 94 | Municipal Bonds | FKNIX vs DMREX | |
| DFA Short Term Municipal Bond Portfolio | 0.17 | 0.27 | 0.38 | 99 | Municipal Bonds | FKNIX vs DFSMX | |
| DFA NY Municipal Bond Portfolio | 0.20 | 0.30 | 0.42 | 99 | Municipal Bonds | FKNIX vs DNYMX | |
| Franklin Income Fund Advisor Class | 0.22 | 0.33 | 0.24 | 89 | Diversified Portfolio | FKNIX vs FRIAX | |
| JPMorgan Ultra-Short Municipal Fund | 0.24 | 0.34 | 0.40 | 99 | Municipal Bonds | FKNIX vs USMSX |
See all 22 diversifiers for FKNIX
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