Looking to diversify beyond ITAAX? The mutual funds below have historically moved differently from ITAAX, 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 ITAAX
5 mutual funds have low correlation with ITAAX (below 0.3), 0 of which are negatively correlated. The least correlated is GuidePath Absolute Return Allocation Fund (GPARX) (Short-Term Bond) with a 1Y correlation of 0.15, down from 0.57 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GuidePath Absolute Return Allocation Fund | 0.15 | 0.50 | 0.57 | 69 | Short-Term Bond | ITAAX vs GPARX | |
| Leader Short Term High Yield Bond Fund | 0.16 | 0.18 | 0.21 | 84 | Short-Term Bond | ITAAX vs LCCMX | |
| DFA Two-Year Fixed Income Portfolio | 0.23 | 0.06 | 0.35 | 100 | Short-Term Bond | ITAAX vs DFCFX | |
| GuidepathConservative Income Fund | 0.25 | 0.29 | 0.38 | 99 | Short-Term Bond | ITAAX vs GPICX | |
| Transamerica Small Cap Value | 0.28 | 0.15 | 0.12 | 93 | Small Cap Value Equities | ITAAX vs TSLTX |
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