Looking to diversify beyond SCDGX? The mutual funds below have the lowest correlation with SCDGX — 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 SCDGX.
Best Diversifiers for SCDGX
6 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, up from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DWS California Tax | 0.22 | 0.16 | 0.12 | 64 | Municipal Bonds | SCDGX vs KCTAX | |
| DWS Short Term Municipal Bond Fund | 0.23 | 0.14 | 0.10 | 70 | Municipal Bonds | SCDGX vs MGSMX | |
| DWS Massachusetts Tax Free Fund | 0.24 | 0.16 | 0.13 | 74 | Municipal Bonds | SCDGX vs SCMAX | |
| DWS Strategic High Yield Tax | 0.25 | 0.17 | 0.14 | 65 | High Yield Muni | SCDGX vs SHYTX | |
| DWS Intermediate Tax-Free Fund | 0.26 | 0.18 | 0.12 | 65 | Municipal Bonds | SCDGX vs SCMTX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SCDGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SCDGX and solid risk/return profiles. The least correlated is RTX Corporation (RTX) (Industrials) with a 1Y correlation of 0.24, down from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RTX Corporation | 0.24 | 0.25 | 0.41 | 70 | Industrials |
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