Looking to diversify beyond FNYTX? The mutual funds below have historically moved differently from FNYTX, 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 FNYTX
18 mutual funds have low correlation with FNYTX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of 0.01, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | 0.01 | 0.15 | 0.21 | 88 | Municipal Bonds | FNYTX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.03 | 0.19 | 0.23 | 91 | Municipal Bonds | FNYTX vs DMREX | |
| Fidelity Advisor Floating Rate High Income Fund Cl... | 0.17 | 0.19 | 0.24 | 92 | High Yield Bonds | FNYTX vs FFRAX | |
| Vanguard PRIMECAP Fund Investor Shares | 0.21 | 0.14 | 0.13 | 93 | Large Cap Growth Equities | FNYTX vs VPMCX | |
| Vanguard Equity Income Fund Investor Shares | 0.22 | 0.14 | 0.08 | 90 | Dividend, Large Cap Value Equities | FNYTX vs VEIPX |
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