Looking to diversify beyond MYFRX? The mutual funds below have historically moved differently from MYFRX, 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 MYFRX
36 mutual funds have low correlation with MYFRX (below 0.3), 0 of which are negatively correlated. The least correlated is CrossingBridge Ultra-Short Duration Fund (CBUDX) (Ultrashort Bond) with a 1Y correlation of 0.00, roughly unchanged from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CrossingBridge Ultra-Short Duration Fund | 0.00 | 0.04 | 0.09 | 99 | Ultrashort Bond | MYFRX vs CBUDX | |
| Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed... | 0.01 | 0.15 | 0.15 | 99 | Ultrashort Bond | MYFRX vs TSDUX | |
| Tactical Multi-Purpose Fund | 0.02 | -0.01 | -0.00 | 100 | Ultrashort Bond | MYFRX vs TMPFX | |
| Nationwide Amundi Strategic Income Fund | 0.05 | 0.12 | 0.18 | 99 | Multisector Bonds | MYFRX vs NWXHX | |
| Pioneer Core Equity Fund | 0.08 | 0.07 | 0.09 | 70 | Large Cap Blend Equities | MYFRX vs PIOTX |
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