Looking to diversify beyond SCOBX? The mutual funds below have the lowest correlation with SCOBX — 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 SCOBX.
Best Diversifiers for SCOBX
4 mutual funds have low correlation with SCOBX (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 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DWS Short Term Municipal Bond Fund | 0.27 | 0.19 | 0.16 | 70 | Municipal Bonds | SCOBX vs MGSMX | |
| DWS Massachusetts Tax Free Fund | 0.28 | 0.21 | 0.19 | 81 | Municipal Bonds | SCOBX vs SCMAX | |
| DWS California Tax | 0.29 | 0.22 | 0.19 | 75 | Municipal Bonds | SCOBX vs KCTAX | |
| DWS Intermediate Tax-Free Fund | 0.30 | 0.23 | 0.19 | 67 | Municipal Bonds | SCOBX vs SCMTX | |
| DWS Strategic High Yield Tax | 0.31 | 0.23 | 0.21 | 75 | High Yield Muni | SCOBX vs SHYTX |
See all 43 diversifiers for SCOBX
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