Looking to diversify beyond KDHAX? The mutual funds below have the lowest correlation with KDHAX — 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 KDHAX.
Best Diversifiers for KDHAX
8 mutual funds have low correlation with KDHAX (below 0.3), 0 of which are negatively correlated. The least correlated is DWS New York Tax (KNTAX) (Municipal Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DWS New York Tax | 0.16 | 0.13 | 0.07 | 63 | Municipal Bonds | KDHAX vs KNTAX | |
| DWS California Tax | 0.16 | 0.12 | 0.07 | 64 | Municipal Bonds | KDHAX vs KCTAX | |
| DWS Science and Technology Fund | 0.17 | 0.21 | 0.36 | 58 | Technology Equities | KDHAX vs KTCAX | |
| DWS Strategic High Yield Tax | 0.19 | 0.15 | 0.10 | 65 | High Yield Muni | KDHAX vs SHYTX | |
| DWS Intermediate Tax-Free Fund | 0.20 | 0.14 | 0.07 | 65 | Municipal Bonds | KDHAX vs SCMTX |
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