Looking to diversify beyond MFALX? The mutual funds below have the lowest correlation with MFALX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from MFALX.
Best Diversifiers for MFALX
9 mutual funds have low correlation with MFALX (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 0.15, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.15 | 0.26 | 0.35 | 99 | Municipal Bonds | MFALX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.18 | 0.33 | 0.38 | 99 | Municipal Bonds | MFALX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.19 | 0.30 | 0.40 | 99 | Municipal Bonds | MFALX vs DNYMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.21 | 0.27 | 0.40 | 100 | Municipal Bonds | MFALX vs DFABX | |
| Federated Hermes Conservative Municipal Microshort... | 0.22 | 0.17 | 0.13 | 98 | Municipal Bonds | MFALX vs FHMIX |
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