Looking to diversify beyond RFNGX? The mutual funds below have historically moved differently from RFNGX, 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 RFNGX
4 mutual funds have low correlation with RFNGX (below 0.3), 0 of which are negatively correlated. The least correlated is American High-Income Municipal Bond Fund Class F-3 (HIMFX) (High Yield Muni) with a 1Y correlation of 0.19, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American High-Income Municipal Bond Fund Class F-3 | 0.19 | 0.15 | 0.13 | 84 | High Yield Muni | RFNGX vs HIMFX | |
| American High-Income Municipal Bond Fund Class F-2 | 0.20 | 0.15 | 0.13 | 83 | High Yield Muni | RFNGX vs AHMFX | |
| American Funds Tax-Exempt Bond Fund of America Cla... | 0.22 | 0.14 | 0.13 | 65 | Municipal Bonds | RFNGX vs AFTFX | |
| Capital Group California Short-Term Municipal Fund | 0.27 | 0.15 | 0.10 | 63 | Municipal Bonds | RFNGX vs CCSTX | |
| Provident Trust Strategy Fund | 0.57 | 0.70 | 0.80 | 51 | Large Cap Growth Equities | RFNGX vs PROVX |
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