Looking to diversify beyond MSHMX? The mutual funds below have historically moved differently from MSHMX, 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 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 0.12, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.12 | 0.03 | 0.04 | 100 | Ultrashort Bond | MSHMX vs MUIIX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.28 | 0.35 | 0.38 | 56 | Emerging Markets Bonds | MSHMX vs EDD | |
| Fidelity OTC Portfolio Class K | 0.45 | 0.59 | 0.74 | 67 | Large Cap Growth Equities | MSHMX vs FOCKX | |
| Fidelity OTC Portfolio | 0.45 | 0.59 | 0.74 | 66 | Large Cap Growth Equities | MSHMX vs FOCPX | |
| Fidelity OTC K6 Portfolio | 0.47 | 0.60 | 0.75 | 53 | Large Cap Growth Equities | MSHMX vs FOKFX |
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