Looking to diversify beyond SCINX? The mutual funds below have historically moved differently from SCINX, 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 SCINX
2 mutual funds have low correlation with SCINX (below 0.3), 0 of which are negatively correlated. The least correlated is DWS Intermediate Tax-Free Fund (SCMTX) (Municipal Bonds) with a 1Y correlation of 0.27, up from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DWS Intermediate Tax-Free Fund | 0.27 | 0.23 | 0.17 | 63 | Municipal Bonds | SCINX vs SCMTX | |
| DWS California Tax | 0.29 | 0.22 | 0.16 | 71 | Municipal Bonds | SCINX vs KCTAX | |
| DWS Short Term Municipal Bond Fund | 0.30 | 0.21 | 0.15 | 66 | Municipal Bonds | SCINX vs MGSMX | |
| DWS Massachusetts Tax Free Fund | 0.31 | 0.21 | 0.16 | 77 | Municipal Bonds | SCINX vs SCMAX | |
| DWS Strategic High Yield Tax | 0.36 | 0.24 | 0.18 | 82 | High Yield Muni | SCINX 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 SCINX, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.15, down from 0.45 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.15 | 0.31 | 0.45 | 61 | Financial Services | |
| Apple Inc | 0.36 | 0.36 | 0.45 | 89 | Technology |
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