Looking to diversify beyond FRDPX? The mutual funds below have the lowest correlation with FRDPX — 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 FRDPX.
Best Diversifiers for FRDPX
53 mutual funds have low correlation with FRDPX (below 0.3), 0 of which are negatively correlated. The least correlated is Western Asset Short Duration Municipal Income Fund (SHDAX) (Municipal Bonds) with a 1Y correlation of 0.15, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Western Asset Short Duration Municipal Income Fund | 0.15 | 0.13 | 0.10 | 78 | Municipal Bonds | FRDPX vs SHDAX | |
| Franklin Virginia Tax Free Income Fund | 0.16 | 0.14 | 0.11 | 70 | Municipal Bonds | FRDPX vs FRVAX | |
| Western Asset Intermediate Maturity CA Municipals ... | 0.16 | 0.14 | 0.10 | 75 | Municipal Bonds | FRDPX vs ITCAX | |
| Western Asset Massachusetts Municipals Fund | 0.16 | 0.16 | 0.12 | 75 | Municipal Bonds | FRDPX vs SLMMX | |
| Franklin Colorado Tax Free Income Fund | 0.16 | 0.15 | 0.12 | 76 | Municipal Bonds | FRDPX vs FRCOX |
See all 148 diversifiers for FRDPX
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