Looking to diversify beyond FMINX? The mutual funds below have historically moved differently from FMINX, 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 FMINX
11 mutual funds have low correlation with FMINX (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 0.22, down from 0.38 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 | 0.22 | 0.32 | 0.38 | 98 | Municipal Bonds | FMINX vs USMSX | |
| DFA Short Term Municipal Bond Portfolio | 0.24 | 0.27 | 0.36 | 100 | Municipal Bonds | FMINX vs DFSMX | |
| DFA NY Municipal Bond Portfolio | 0.24 | 0.32 | 0.41 | 99 | Municipal Bonds | FMINX vs DNYMX | |
| abrdn Ultra Short Municipal Income Fund | 0.25 | 0.28 | 0.27 | 100 | Municipal Bonds | FMINX vs ATOIX | |
| Franklin Income Fund Advisor Class | 0.25 | 0.31 | 0.24 | 93 | Diversified Portfolio | FMINX vs FRIAX |
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