Looking to diversify beyond AAAZX? The mutual funds below have historically moved differently from AAAZX, 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 AAAZX
13 mutual funds have low correlation with AAAZX (below 0.3), 0 of which are negatively correlated. The least correlated is DWS Massachusetts Tax Free Fund (SCMAX) (Municipal Bonds) with a 1Y correlation of 0.09, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DWS Massachusetts Tax Free Fund | 0.09 | 0.22 | 0.21 | 77 | Municipal Bonds | AAAZX vs SCMAX | |
| DWS California Tax | 0.10 | 0.23 | 0.21 | 71 | Municipal Bonds | AAAZX vs KCTAX | |
| DWS Strategic High Yield Tax | 0.13 | 0.24 | 0.22 | 82 | High Yield Muni | AAAZX vs SHYTX | |
| DWS New York Tax | 0.14 | 0.25 | 0.22 | 71 | Municipal Bonds | AAAZX vs KNTAX | |
| DWS Short Term Municipal Bond Fund | 0.15 | 0.19 | 0.17 | 66 | Municipal Bonds | AAAZX vs MGSMX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements AAAZX
Add AAAZX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with AAAZX