Looking to diversify beyond ONJAX? The mutual funds below have historically moved differently from ONJAX, 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 ONJAX
14 mutual funds have low correlation with ONJAX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of 0.01, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | 0.01 | 0.15 | 0.22 | 89 | Municipal Bonds | ONJAX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.05 | 0.19 | 0.23 | 92 | Municipal Bonds | ONJAX vs DMREX | |
| abrdn Ultra Short Municipal Income Fund | 0.16 | 0.25 | 0.28 | 100 | Municipal Bonds | ONJAX vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | 0.16 | 0.17 | 0.13 | 99 | Municipal Bonds | ONJAX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.17 | 0.21 | 0.20 | 99 | Municipal Bonds | ONJAX vs TFCYX |
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