Looking to diversify beyond FRNJX? The mutual funds below have historically moved differently from FRNJX, 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 FRNJX
12 mutual funds have low correlation with FRNJX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Short Term Municipal Bond Portfolio (DFSMX) (Municipal Bonds) with a 1Y correlation of 0.23, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.23 | 0.28 | 0.37 | 100 | Municipal Bonds | FRNJX vs DFSMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.24 | 0.23 | 0.21 | 99 | Municipal Bonds | FRNJX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.25 | 0.19 | 0.14 | 99 | Municipal Bonds | FRNJX vs FHMIX | |
| Franklin Income Fund Advisor Class | 0.25 | 0.32 | 0.25 | 93 | Diversified Portfolio | FRNJX vs FRIAX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.25 | 0.29 | — | 100 | Municipal Bonds | FRNJX vs DFABX |
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