Looking to diversify beyond TPYAX? The mutual funds below have historically moved differently from TPYAX, 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 TPYAX
5 mutual funds have low correlation with TPYAX (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 0.16, up from 0.05 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 | 0.16 | 0.06 | 0.05 | 99 | Ultrashort Bond | TPYAX vs TSDOX | |
| Federated Hermes International Strategic Value Div... | 0.22 | 0.34 | 0.53 | 88 | Foreign Large Cap Equities | TPYAX vs IVFIX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.24 | 0.56 | 0.68 | 61 | Foreign Large Cap Equities | TPYAX vs GSINX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.24 | 0.56 | 0.68 | 61 | Foreign Large Cap Equities | TPYAX vs GSIMX | |
| GQG Partners International Quality Dividend Income... | 0.26 | 0.48 | 0.60 | 71 | Quality Factor, Foreign Large Cap Equities | TPYAX vs GQJPX |
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