Looking to diversify beyond MDXBX? The mutual funds below have historically moved differently from MDXBX, 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 MDXBX
15 mutual funds have low correlation with MDXBX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.03, 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 | -0.03 | 0.18 | 0.22 | 91 | Municipal Bonds | MDXBX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.04 | 0.21 | 0.23 | 94 | Municipal Bonds | MDXBX vs DMREX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.10 | 0.20 | 0.19 | 99 | Municipal Bonds | MDXBX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.12 | 0.17 | 0.13 | 99 | Municipal Bonds | MDXBX vs FHMIX | |
| DFA Short Term Municipal Bond Portfolio | 0.14 | 0.26 | 0.35 | 100 | Municipal Bonds | MDXBX vs DFSMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MDXBX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.25, down from -0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.25 | -0.09 | -0.08 | 84 | Energy | |
| Johnson & Johnson | 0.02 | 0.07 | 0.06 | 97 | Healthcare | |
| Bristol-Myers Squibb Company | 0.07 | 0.07 | 0.05 | 92 | Healthcare |
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