Looking to diversify beyond IDMIX? The mutual funds below have historically moved differently from IDMIX, 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 IDMIX
0 mutual funds have low correlation with IDMIX (below 0.3), 0 of which are negatively correlated. The least correlated is Miller Intermediate Bond Fund (MIFIX) (Corporate Bonds) with a 1Y correlation of 0.44, roughly unchanged from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Miller Intermediate Bond Fund | 0.44 | 0.36 | 0.37 | 96 | Corporate Bonds | IDMIX vs MIFIX | |
| iMGP High Income Alternatives Fund | 0.66 | 0.65 | 0.68 | 90 | Nontraditional Bonds | IDMIX vs MAHIX | |
| Vanguard Short-Term Corporate Bond Index Fund Inst... | 0.76 | 0.84 | 0.85 | 82 | Corporate Bonds | IDMIX vs VSTBX | |
| Vanguard Short-Term Corporate Bond Index Fund Admi... | 0.79 | 0.85 | 0.85 | 80 | Short-Term Bond, Corporate Bonds, Investment Grade Bonds | IDMIX vs VSCSX |
Diversification Analysis
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