Looking to diversify beyond QSPNX? The mutual funds below have the lowest correlation with QSPNX — 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 QSPNX.
Best Diversifiers for QSPNX
37 mutual funds have low correlation with QSPNX (below 0.3), 23 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Strategy Alternative Fund (SMSAX) (Multistrategy) with a 1Y correlation of -0.23, roughly unchanged from -0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Strategy Alt... | -0.23 | -0.20 | -0.17 | 85 | Multistrategy | QSPNX vs SMSAX | |
| Destinations Multi Strategy Alternatives Fund | -0.23 | -0.16 | -0.18 | 63 | Multistrategy | QSPNX vs DMSFX | |
| Aspiriant Defensive Allocation Fund | -0.18 | -0.10 | -0.07 | 96 | Multistrategy | QSPNX vs RMDFX | |
| Morningstar Alternatives Fund | -0.16 | -0.08 | -0.08 | 78 | Multistrategy | QSPNX vs MSTVX | |
| StepStone Private Markets Fund Class I | -0.16 | -0.12 | -0.06 | 91 | Multistrategy | QSPNX vs XPMIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from QSPNX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to QSPNX and solid risk/return profiles. The least correlated is Taiwan Semiconductor Manufacturing Company Limited (TSM) (Technology) with a 1Y correlation of -0.11, roughly unchanged from -0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | -0.11 | -0.11 | -0.14 | 93 | Technology | |
| Waste Management, Inc. | -0.03 | 0.03 | -0.01 | 51 | Industrials | |
| Broadcom Inc. | -0.00 | -0.08 | -0.13 | 73 | Technology | |
| Coherent Corp. | 0.02 | -0.08 | -0.14 | 95 | Technology | |
| Micron Technology, Inc. | 0.15 | 0.00 | -0.07 | 99 | Technology |
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