Looking to diversify beyond FRPAX? The mutual funds below have historically moved differently from FRPAX, 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 FRPAX
13 mutual funds have low correlation with FRPAX (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 0.18, down from 0.36 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 | 0.18 | 0.26 | 0.36 | 100 | Municipal Bonds | FRPAX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.21 | 0.27 | — | 100 | Municipal Bonds | FRPAX vs DFABX | |
| Franklin Income Fund Advisor Class | 0.22 | 0.32 | 0.24 | 93 | Diversified Portfolio | FRPAX vs FRIAX | |
| abrdn Ultra Short Municipal Income Fund | 0.24 | 0.29 | 0.28 | 100 | Municipal Bonds | FRPAX vs ATOIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.25 | 0.33 | 0.38 | 98 | Municipal Bonds | FRPAX vs USMSX |
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