Looking to diversify beyond OPTAX? The mutual funds below have the lowest correlation with OPTAX — 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 OPTAX.
Best Diversifiers for OPTAX
19 mutual funds have low correlation with OPTAX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of 0.02, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | 0.02 | 0.18 | 0.21 | 94 | Municipal Bonds | OPTAX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.07 | 0.22 | 0.23 | 94 | Municipal Bonds | OPTAX vs DMREX | |
| Invesco Small Cap Value Fund | 0.16 | 0.14 | 0.07 | 83 | Small Cap Value Equities | OPTAX vs VSCAX | |
| Federated Hermes Conservative Municipal Microshort... | 0.16 | 0.18 | 0.14 | 99 | Municipal Bonds | OPTAX vs FHMIX | |
| DFA California Short Term Municipal Bond Portfolio | 0.16 | 0.30 | 0.39 | 99 | Municipal Bonds | OPTAX vs DFCMX |
See all 35 diversifiers for OPTAX
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Diversification Analysis
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