Looking to diversify beyond NEWFX? The mutual funds below have the lowest correlation with NEWFX — 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 NEWFX.
Best Diversifiers for NEWFX
0 mutual funds have low correlation with NEWFX (below 0.3), 0 of which are negatively correlated. The least correlated is Ashmore Emerging Markets Small Cap Equity Fund (ESCIX) (Emerging Markets Diversified) with a 1Y correlation of 0.53, down from 0.72 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Ashmore Emerging Markets Small Cap Equity Fund | 0.53 | 0.68 | 0.72 | 87 | Emerging Markets Diversified | NEWFX vs ESCIX | |
| Fidelity Equity-Income Fund | 0.54 | 0.60 | 0.69 | 80 | Large Cap Value Equities | NEWFX vs FEQIX | |
| Fidelity Small Cap Value Fund | 0.54 | 0.60 | 0.69 | 74 | Small Cap Value Equities | NEWFX vs FCPVX | |
| American Funds American High-Income Trust | 0.55 | 0.50 | 0.55 | 73 | High Yield Bonds | NEWFX vs AHITX | |
| Fidelity Large Cap Value Index Fund | 0.62 | 0.63 | 0.71 | 89 | Large Cap Value Equities | NEWFX vs FLCOX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NEWFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NEWFX and solid risk/return profiles. The least correlated is The Allstate Corporation (ALL) (Financial Services) with a 1Y correlation of -0.16, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | -0.16 | -0.00 | 0.15 | 67 | Financial Services | |
| JPMorgan Chase & Co. | 0.37 | 0.37 | 0.48 | 68 | Financial Services | |
| Alphabet Inc. Class A | 0.47 | 0.49 | 0.58 | 96 | Communication Services | |
| Advanced Micro Devices, Inc. | 0.49 | 0.55 | 0.59 | 97 | Technology |
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