Looking to diversify beyond TFAZX? The mutual funds below have historically moved differently from TFAZX, 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 TFAZX
8 mutual funds have low correlation with TFAZX (below 0.3), 2 of which are negatively correlated. The least correlated is Artisan Global Unconstrained Fund (APFPX) (Nontraditional Bonds) with a 1Y correlation of -0.18, roughly unchanged from -0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Artisan Global Unconstrained Fund | -0.18 | -0.24 | -0.27 | 99 | Nontraditional Bonds | TFAZX vs APFPX | |
| Putnam Mortgage Opportunities Fund | -0.05 | 0.01 | 0.10 | 88 | Nontraditional Bonds | TFAZX vs PMOTX | |
| Victory Pioneer Cat Bond Fund Class Y | 0.07 | — | — | 100 | Nontraditional Bonds | TFAZX vs CBYYX | |
| Dunham Long/Short Credit Fund | 0.09 | -0.13 | -0.13 | 80 | Nontraditional Bonds | TFAZX vs DCAIX | |
| PGIM Securitized Credit Fund | 0.11 | 0.01 | -0.00 | 100 | Nontraditional Bonds | TFAZX vs SCFZX |
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