Looking to diversify beyond SCVAX? The mutual funds below have the lowest correlation with SCVAX — 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 SCVAX.
Best Diversifiers for SCVAX
11 mutual funds have low correlation with SCVAX (below 0.3), 0 of which are negatively correlated. The least correlated is Allspring Ultra Short-Term Municipal Income Fund (SMAIX) (Municipal Bonds) with a 1Y correlation of 0.03, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Allspring Ultra Short-Term Municipal Income Fund | 0.03 | 0.05 | 0.06 | 98 | Municipal Bonds | SCVAX vs SMAIX | |
| Allspring High Yield Municipal Bond Fund | 0.07 | 0.12 | 0.09 | 74 | High Yield Muni | SCVAX vs WHYIX | |
| Allspring California Tax-Free Fund | 0.08 | 0.14 | 0.10 | 71 | Municipal Bonds | SCVAX vs SCTAX | |
| Allspring Ultra Short-Term Income Fund | 0.09 | 0.12 | 0.14 | 98 | Ultrashort Bond | SCVAX vs SADIX | |
| Allspring Pennsylvania Tax-Free Fund | 0.09 | 0.11 | 0.06 | 75 | Municipal Bonds | SCVAX vs EKVAX |
See all 50 diversifiers for SCVAX
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