Looking to diversify beyond TEDIX? The mutual funds below have historically moved differently from TEDIX, 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 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 0.29, up from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin California High Yield Municipal Fund Advi... | 0.29 | 0.19 | 0.11 | 78 | High Yield Muni | TEDIX vs FVCAX | |
| Franklin Colorado Tax-Free Income Fund Class A | 0.29 | 0.19 | 0.12 | 79 | Municipal Bonds | TEDIX vs FCOQX | |
| Catalyst/Millburn Hedge Strategy Fund Class I | 0.33 | 0.29 | 0.35 | 92 | Multistrategy, Systematic Trend, Global Equities | TEDIX vs MBXIX | |
| American Funds The New Economy Fund® Class F-2 | 0.44 | 0.54 | 0.62 | 69 | Global Equities | TEDIX vs NEFFX | |
| GQG Partners Global Quality Dividend Income Fund | 0.47 | 0.64 | 0.73 | 68 | Quality Factor, Global Equities | TEDIX vs GQFPX |
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