Looking to diversify beyond FRVAX? The mutual funds below have historically moved differently from FRVAX, 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 FRVAX
14 mutual funds have low correlation with FRVAX (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 0.21, down from 0.35 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 | 0.21 | 0.27 | 0.35 | 100 | Municipal Bonds | FRVAX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 0.22 | 0.28 | 0.27 | 100 | Municipal Bonds | FRVAX vs ATOIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.22 | 0.32 | 0.38 | 98 | Municipal Bonds | FRVAX vs USMSX | |
| Franklin Income Fund Advisor Class | 0.23 | 0.32 | 0.24 | 93 | Diversified Portfolio | FRVAX vs FRIAX | |
| Templeton Institutional Fund International Equity ... | 0.24 | 0.18 | 0.13 | 63 | Foreign Large Cap Equities | FRVAX vs TFEQX |
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