Looking to diversify beyond NEWFX? The mutual funds below have historically moved differently from NEWFX, 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 NEWFX
2 mutual funds have low correlation with NEWFX (below 0.3), 0 of which are negatively correlated. The least correlated is Goldman Sachs GQG Partners International Opportunities Fund Class R6 (GSIYX) (Foreign Large Cap Equities) with a 1Y correlation of 0.23, down from 0.70 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs GQG Partners International Opportuni... | 0.23 | 0.58 | 0.70 | 56 | Foreign Large Cap Equities, Emerging Markets Equities | NEWFX vs GSIYX | |
| The Cook & Bynum Fund | 0.29 | 0.42 | 0.52 | 66 | Emerging Markets Equities | NEWFX vs COBYX | |
| Ashmore Emerging Markets Small Cap Equity Fund | 0.47 | 0.65 | 0.71 | 92 | Emerging Markets Equities | NEWFX vs ESCIX | |
| Fidelity Equity-Income Fund | 0.48 | 0.57 | 0.67 | 90 | Large Cap Value Equities | NEWFX vs FEQIX | |
| American Funds The Income Fund of America Class A | 0.52 | 0.65 | 0.72 | 81 | Diversified Portfolio, Dividend | NEWFX vs AMECX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NEWFX, 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 The Allstate Corporation (ALL) (Financial Services) with a 1Y correlation of -0.28, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | -0.28 | -0.05 | 0.12 | 82 | Financial Services | |
| NextEra Energy, Inc. | 0.07 | 0.15 | 0.26 | 77 | Utilities | |
| JPMorgan Chase & Co. | 0.30 | 0.34 | 0.43 | 71 | Financial Services | |
| Alphabet Inc. Class A | 0.50 | 0.50 | 0.58 | 95 | Communication Services | |
| Advanced Micro Devices, Inc. | 0.51 | 0.51 | 0.56 | 94 | Technology |
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