Looking to diversify beyond ICPAX? The mutual funds below have historically moved differently from ICPAX, 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 ICPAX
7 mutual funds have low correlation with ICPAX (below 0.3), 7 of which are negatively correlated. The least correlated is Kansas Municipal Fund (KSMUX) (Municipal Bonds) with a 1Y correlation of -0.18, down from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Kansas Municipal Fund | -0.18 | -0.02 | -0.01 | 86 | Municipal Bonds | ICPAX vs KSMUX | |
| Viking Tax-Free Fund For Montana | -0.17 | -0.01 | 0.00 | 91 | Municipal Bonds | ICPAX vs VMTTX | |
| Oklahoma Municipal Fund | -0.17 | 0.01 | 0.01 | 83 | Municipal Bonds | ICPAX vs OKMUX | |
| Nebraska Municipal Fund | -0.14 | -0.01 | 0.01 | 91 | Municipal Bonds | ICPAX vs NEMUX | |
| Viking Tax-Free Fund for North Dakota | -0.12 | 0.03 | 0.02 | 88 | Municipal Bonds | ICPAX vs VNDFX |
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