Looking to diversify beyond SCDGX? The mutual funds below have historically moved differently from SCDGX, 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 SCDGX
7 mutual funds have low correlation with SCDGX (below 0.3), 0 of which are negatively correlated. The least correlated is DWS California Tax (KCTAX) (Municipal Bonds) with a 1Y correlation of 0.22, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DWS California Tax | 0.22 | 0.16 | 0.12 | 71 | Municipal Bonds | SCDGX vs KCTAX | |
| DWS Massachusetts Tax Free Fund | 0.23 | 0.16 | 0.14 | 77 | Municipal Bonds | SCDGX vs SCMAX | |
| DWS Intermediate Tax-Free Fund | 0.24 | 0.17 | 0.12 | 63 | Municipal Bonds | SCDGX vs SCMTX | |
| DWS Short Term Municipal Bond Fund | 0.24 | 0.15 | 0.11 | 66 | Municipal Bonds | SCDGX vs MGSMX | |
| DWS Strategic High Yield Tax | 0.25 | 0.17 | 0.14 | 82 | High Yield Muni | SCDGX vs SHYTX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SCDGX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is RTX Corporation (RTX) (Industrials) with a 1Y correlation of 0.22, down from 0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RTX Corporation | 0.22 | 0.25 | 0.40 | 82 | Industrials |
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