Looking to diversify beyond TXRIX? The mutual funds below have the lowest correlation with TXRIX — 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 TXRIX.
Best Diversifiers for TXRIX
16 mutual funds have low correlation with TXRIX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.04 | 0.16 | 0.12 | 98 | Municipal Bonds | TXRIX vs TFCYX | |
| JPMorgan Equity Income Fund R6 | 0.09 | 0.14 | 0.18 | 65 | Large Cap Value Equities, Dividend | TXRIX vs OIEJX | |
| Federated Hermes Conservative Municipal Microshort... | 0.10 | 0.11 | 0.07 | 98 | Municipal Bonds | TXRIX vs FHMIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.16 | 0.32 | 0.32 | 99 | Municipal Bonds | TXRIX vs USMSX | |
| DFA Short Term Municipal Bond Portfolio | 0.17 | 0.25 | 0.26 | 99 | Municipal Bonds | TXRIX vs DFSMX |
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