Looking to diversify beyond FRPAX? The mutual funds below have the lowest correlation with FRPAX — 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 FRPAX.
Best Diversifiers for FRPAX
11 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 0.15, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.15 | 0.26 | 0.36 | 99 | Municipal Bonds | FRPAX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.17 | 0.27 | 0.39 | 100 | Municipal Bonds | FRPAX vs DFABX | |
| Franklin Income Fund Advisor Class | 0.19 | 0.32 | 0.24 | 89 | Diversified Portfolio | FRPAX vs FRIAX | |
| JPMorgan Ultra-Short Municipal Fund | 0.19 | 0.32 | 0.38 | 99 | Municipal Bonds | FRPAX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.22 | 0.31 | 0.40 | 99 | Municipal Bonds | FRPAX vs DNYMX |
See all 20 diversifiers for FRPAX
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