Looking to diversify beyond SCPIX? The mutual funds below have the lowest correlation with SCPIX — 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 SCPIX.
Best Diversifiers for SCPIX
6 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 0.21, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DWS California Tax | 0.21 | 0.16 | 0.12 | 64 | Municipal Bonds | SCPIX vs KCTAX | |
| DWS Massachusetts Tax Free Fund | 0.22 | 0.16 | 0.13 | 74 | Municipal Bonds | SCPIX vs SCMAX | |
| DWS Strategic High Yield Tax | 0.23 | 0.17 | 0.14 | 65 | High Yield Muni | SCPIX vs SHYTX | |
| DWS Short Term Municipal Bond Fund | 0.23 | 0.15 | 0.10 | 70 | Municipal Bonds | SCPIX vs MGSMX | |
| DWS Intermediate Tax-Free Fund | 0.25 | 0.18 | 0.12 | 65 | Municipal Bonds | SCPIX vs SCMTX |
See all 51 diversifiers for SCPIX
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