Looking to diversify beyond MSHMX? The mutual funds below have the lowest correlation with MSHMX — 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 MSHMX.
Best Diversifiers for MSHMX
2 mutual funds have low correlation with MSHMX (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio (MUIIX) (Ultrashort Bond) with a 1Y correlation of 0.06, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.06 | 0.02 | 0.03 | 99 | Ultrashort Bond | MSHMX vs MUIIX | |
| Emerald Insights Fund | 0.22 | 0.63 | 0.76 | 98 | Large Cap Growth Equities | MSHMX vs EFCNX | |
| Fidelity OTC Portfolio | 0.48 | 0.62 | 0.76 | 93 | Large Cap Growth Equities | MSHMX vs FOCPX | |
| Fidelity OTC Portfolio Class K | 0.48 | 0.62 | 0.76 | 93 | Large Cap Growth Equities | MSHMX vs FOCKX | |
| Fidelity OTC K6 Portfolio | 0.50 | 0.62 | 0.76 | 88 | Large Cap Growth Equities | MSHMX vs FOKFX |
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