Looking to diversify beyond BSNIX? The mutual funds below have the lowest correlation with BSNIX — 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 BSNIX.
Best Diversifiers for BSNIX
12 mutual funds have low correlation with BSNIX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.10 | 0.13 | 0.10 | 99 | Municipal Bonds | BSNIX vs FHMIX | |
| Nationwide Amundi Strategic Income Fund | 0.11 | 0.22 | 0.16 | 99 | Multisector Bonds | BSNIX vs NWXHX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.14 | 0.12 | 0.11 | 99 | Municipal Bonds | BSNIX vs TFCYX | |
| JPMorgan Ultra-Short Municipal Fund | 0.16 | 0.30 | 0.36 | 99 | Municipal Bonds | BSNIX vs USMSX | |
| abrdn Ultra Short Municipal Income Fund | 0.18 | 0.12 | 0.14 | 99 | Municipal Bonds | BSNIX vs ATOIX |
See all 26 diversifiers for BSNIX
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