Looking to diversify beyond FONPX? The mutual funds below have the lowest correlation with FONPX — 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 FONPX.
Best Diversifiers for FONPX
8 mutual funds have low correlation with FONPX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.03, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.03 | 0.17 | 0.21 | 95 | Municipal Bonds | FONPX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.07 | 0.23 | 0.23 | 94 | Municipal Bonds | FONPX vs DMREX | |
| DFA Short Term Municipal Bond Portfolio | 0.17 | 0.28 | 0.37 | 99 | Municipal Bonds | FONPX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.25 | 0.33 | 0.40 | 99 | Municipal Bonds | FONPX vs USMSX | |
| Federated Hermes Conservative Municipal Microshort... | 0.26 | 0.21 | 0.15 | 99 | Municipal Bonds | FONPX vs FHMIX |
See all 22 diversifiers for FONPX
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