Looking to diversify beyond SCPIX? The mutual funds below have historically moved differently from SCPIX, 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 SCPIX
8 mutual funds have low correlation with SCPIX (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 0.13 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 | 0.13 | 71 | Municipal Bonds | SCPIX vs KCTAX | |
| DWS Massachusetts Tax Free Fund | 0.23 | 0.16 | 0.14 | 77 | Municipal Bonds | SCPIX vs SCMAX | |
| DWS Intermediate Tax-Free Fund | 0.24 | 0.18 | 0.13 | 63 | Municipal Bonds | SCPIX vs SCMTX | |
| DWS Short Term Municipal Bond Fund | 0.24 | 0.15 | 0.11 | 66 | Municipal Bonds | SCPIX vs MGSMX | |
| DWS Strategic High Yield Tax | 0.26 | 0.17 | 0.15 | 82 | High Yield Muni | SCPIX vs SHYTX |
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