Looking to diversify beyond INDAX? The mutual funds below have the lowest correlation with INDAX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from INDAX.
Best Diversifiers for INDAX
6 mutual funds have low correlation with INDAX (below 0.3), 1 of which are negatively correlated. The least correlated is ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) (Commodities) with a 1Y correlation of -0.10, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ALPS/CoreCommodity Management CompleteCommoditiesS... | -0.10 | 0.08 | 0.17 | 58 | Commodities | INDAX vs JCRAX | |
| ALPS/Smith Short Duration Bond Fund | 0.23 | 0.07 | 0.07 | 87 | Short-Term Bond | INDAX vs SMRSX | |
| Guinness Atkinson Asia Focus Fund | 0.27 | 0.31 | 0.36 | 65 | Asia Pacific Equities | INDAX vs IASMX | |
| ALPS/Smith Balanced Opportunity Fund | 0.28 | 0.35 | 0.44 | 74 | Diversified Portfolio | INDAX vs ALIBX | |
| RiverFront Asset Allocation Growth & Income | 0.29 | 0.36 | 0.46 | 68 | Diversified Portfolio | INDAX vs RLIIX |
See all 20 diversifiers for INDAX
To view more results, upgrade your current subscription plan.
Diversification Analysis
Build a portfolio that complements INDAX
Add INDAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with INDAX