Looking to diversify beyond ICAFX? The mutual funds below have historically moved differently from ICAFX, 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 ICAFX
1 mutual funds have low correlation with ICAFX (below 0.3), 0 of which are negatively correlated. The least correlated is Putnam Ultra Short Duration Income Fund (PSDYX) (Ultrashort Bond) with a 1Y correlation of 0.09, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.09 | 0.07 | 0.06 | 99 | Ultrashort Bond | ICAFX vs PSDYX | |
| PGIM Short-Term Corporate Bond Fund Class Z | 0.30 | 0.18 | 0.17 | 66 | Short-Term Bond | ICAFX vs PIFZX | |
| Franklin Income Fund Advisor Class | 0.49 | 0.51 | 0.65 | 93 | Diversified Portfolio | ICAFX vs FRIAX | |
| JPMorgan Value Advantage Fund | 0.54 | 0.63 | 0.75 | 74 | Large Cap Value Equities | ICAFX vs JVASX | |
| Vanguard Wellesley Income Fund Investor Shares | 0.60 | 0.60 | 0.66 | 69 | Diversified Portfolio | ICAFX vs VWINX |
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