Looking to diversify beyond INDAX? The mutual funds below have historically moved differently from INDAX, 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 INDAX
8 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 -0.14, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ALPS/CoreCommodity Management CompleteCommoditiesS... | -0.14 | 0.06 | 0.16 | 82 | Commodities | INDAX vs JCRAX | |
| ALPS/Smith Short Duration Bond Fund | 0.23 | 0.08 | 0.08 | 90 | Short-Term Bond | INDAX vs SMRSX | |
| Fidelity Pacific Basin Fund | 0.25 | 0.36 | 0.43 | 65 | Asia Pacific Equities | INDAX vs FPBFX | |
| Vanguard Pacific Stock Index Fund Admiral Shares | 0.28 | 0.38 | 0.44 | 73 | Asia Pacific Equities | INDAX vs VPADX | |
| Vanguard Pacific Stock Index Fund Institutional Sh... | 0.28 | 0.38 | 0.44 | 72 | Asia Pacific Equities | INDAX vs VPKIX |
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