Looking to diversify beyond TEGAX? The mutual funds below have the lowest correlation with TEGAX — 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 TEGAX.
Best Diversifiers for TEGAX
2 mutual funds have low correlation with TEGAX (below 0.3), 0 of which are negatively correlated. The least correlated is Touchstone Ultra Short Duration Fixed Income Fund (TSDOX) (Ultrashort Bond) with a 1Y correlation of 0.13, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Touchstone Ultra Short Duration Fixed Income Fund | 0.13 | 0.05 | 0.03 | 98 | Ultrashort Bond | TEGAX vs TSDOX | |
| Touchstone Core Municipal Bond Fund | 0.19 | 0.13 | 0.12 | 58 | Municipal Bonds | TEGAX vs TOHAX | |
| Touchstone High Yield Fund | 0.46 | 0.45 | 0.47 | 84 | High Yield Bonds | TEGAX vs THYAX | |
| Touchstone Ares Credit Opportunities Fund | 0.50 | 0.45 | 0.48 | 65 | High Yield Bonds | TEGAX vs TARBX | |
| Touchstone Ares Credit Opportunities Fund Class Y | 0.52 | 0.46 | 0.47 | 60 | High Yield Bonds | TEGAX vs TMAYX |
See all 22 diversifiers for TEGAX
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