Looking to diversify beyond TEDIX? The mutual funds below have the lowest correlation with TEDIX — 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 TEDIX.
Best Diversifiers for TEDIX
2 mutual funds have low correlation with TEDIX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin California High Yield Municipal Fund Advisor Class (FVCAX) (High Yield Muni) with a 1Y correlation of 0.24, up from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin California High Yield Municipal Fund Advi... | 0.24 | 0.19 | 0.10 | 66 | High Yield Muni | TEDIX vs FVCAX | |
| Franklin Colorado Tax-Free Income Fund Class A | 0.26 | 0.20 | 0.11 | 68 | Municipal Bonds | TEDIX vs FCOQX | |
| Oberweis Global Opportunities Fund | 0.52 | 0.62 | 0.68 | 71 | Global Equities | TEDIX vs OBEGX | |
| Artisan Global Equity Fund | 0.54 | 0.66 | 0.74 | 70 | Global Equities | TEDIX vs ARTHX | |
| New Alternatives Fund | 0.60 | 0.65 | 0.66 | 61 | Global Equities | TEDIX vs NALFX |
See all 26 diversifiers for TEDIX
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Diversification Analysis
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