Looking to diversify beyond MFPAX? The mutual funds below have the lowest correlation with MFPAX — 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 MFPAX.
Best Diversifiers for MFPAX
9 mutual funds have low correlation with MFPAX (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 0.18, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.18 | 0.28 | 0.36 | 99 | Municipal Bonds | MFPAX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.18 | 0.31 | 0.37 | 99 | Municipal Bonds | MFPAX vs USMSX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.22 | 0.29 | 0.40 | 100 | Municipal Bonds | MFPAX vs DFABX | |
| Federated Hermes Conservative Municipal Microshort... | 0.23 | 0.18 | 0.13 | 99 | Municipal Bonds | MFPAX vs FHMIX | |
| DFA NY Municipal Bond Portfolio | 0.23 | 0.32 | 0.40 | 99 | Municipal Bonds | MFPAX vs DNYMX |
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