Looking to diversify beyond SCINX? The mutual funds below have the lowest correlation with SCINX — 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 SCINX.
Best Diversifiers for SCINX
4 mutual funds have low correlation with SCINX (below 0.3), 0 of which are negatively correlated. The least correlated is DWS Short Term Municipal Bond Fund (MGSMX) (Municipal Bonds) with a 1Y correlation of 0.27, up from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DWS Short Term Municipal Bond Fund | 0.27 | 0.20 | 0.14 | 70 | Municipal Bonds | SCINX vs MGSMX | |
| DWS California Tax | 0.28 | 0.22 | 0.15 | 64 | Municipal Bonds | SCINX vs KCTAX | |
| DWS Massachusetts Tax Free Fund | 0.28 | 0.21 | 0.15 | 74 | Municipal Bonds | SCINX vs SCMAX | |
| DWS Intermediate Tax-Free Fund | 0.29 | 0.23 | 0.16 | 65 | Municipal Bonds | SCINX vs SCMTX | |
| DWS Strategic High Yield Tax | 0.31 | 0.23 | 0.16 | 65 | High Yield Muni | SCINX vs SHYTX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SCINX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SCINX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.32, roughly unchanged from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.32 | 0.32 | 0.40 | 88 | Technology |
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