Looking to diversify beyond GNMFX? The mutual funds below have historically moved differently from GNMFX, 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 GNMFX
11 mutual funds have low correlation with GNMFX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of 0.01, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | 0.01 | 0.16 | 0.21 | 91 | Municipal Bonds | GNMFX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.03 | 0.20 | 0.23 | 94 | Municipal Bonds | GNMFX vs DMREX | |
| DFA Short Term Municipal Bond Portfolio | 0.24 | 0.26 | 0.34 | 100 | Municipal Bonds | GNMFX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.24 | 0.28 | — | 100 | Municipal Bonds | GNMFX vs DFABX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.24 | 0.28 | 0.25 | 99 | Municipal Bonds | GNMFX vs TFCYX |
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