Looking to diversify beyond LAPLX? The mutual funds below have historically moved differently from LAPLX, 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 LAPLX
1 mutual funds have low correlation with LAPLX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.12, roughly unchanged from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.12 | 0.15 | 0.19 | 95 | Bank Loan | LAPLX vs FFRHX | |
| Lord Abbett Affiliated Fund | 0.32 | 0.25 | 0.19 | 80 | Large Cap Value Equities | LAPLX vs LAFFX | |
| Lord Abbett Mid Cap Stock Fund | 0.34 | 0.28 | 0.21 | 70 | Mid Cap Value Equities | LAPLX vs LAVLX | |
| GMO Multi-Sector Fixed Income Fund | 0.52 | 0.83 | 0.87 | 90 | Intermediate Core-Plus Bond | LAPLX vs GUGAX | |
| Holbrook Income Fund Class I | 0.54 | 0.41 | 0.45 | 99 | Intermediate Core-Plus Bond | LAPLX vs HOBIX |
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