Looking to diversify beyond BSHIX? The mutual funds below have historically moved differently from BSHIX, 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 BSHIX
9 mutual funds have low correlation with BSHIX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA NY Municipal Bond Portfolio (DNYMX) (Municipal Bonds) with a 1Y correlation of 0.20, down from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA NY Municipal Bond Portfolio | 0.20 | 0.31 | 0.42 | 99 | Municipal Bonds | BSHIX vs DNYMX | |
| BlackRock MuniYield Michigan Quality Fund | 0.22 | 0.45 | 0.43 | 58 | Municipal Bonds | BSHIX vs MIY | |
| JPMorgan Ultra-Short Municipal Fund | 0.22 | 0.32 | 0.38 | 98 | Municipal Bonds | BSHIX vs USMSX | |
| abrdn Ultra Short Municipal Income Fund | 0.22 | 0.27 | 0.26 | 100 | Municipal Bonds | BSHIX vs ATOIX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.22 | 0.27 | — | 100 | Municipal Bonds | BSHIX vs DFABX |
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