Looking to diversify beyond TMCPX? The mutual funds below have historically moved differently from TMCPX, 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 TMCPX
1 mutual funds have low correlation with TMCPX (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 0.22, up from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Touchstone Ultra Short Duration Fixed Income Fund | 0.22 | 0.10 | 0.06 | 99 | Ultrashort Bond | TMCPX vs TSDOX | |
| Touchstone Core Municipal Bond Fund | 0.33 | 0.20 | 0.14 | 55 | Municipal Bonds | TMCPX vs TOHAX | |
| Touchstone High Yield Fund | 0.49 | 0.46 | 0.46 | 81 | High Yield Bonds | TMCPX vs THYAX | |
| Touchstone International Equity Fund | 0.53 | 0.58 | 0.63 | 94 | Foreign Large Cap Equities | TMCPX vs SWRLX | |
| 13D Activist Fund | 0.62 | 0.75 | 0.81 | 78 | Mid Cap Blend Equities | TMCPX vs DDDIX |
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