Looking to diversify beyond RLIIX? The mutual funds below have historically moved differently from RLIIX, 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 RLIIX
3 mutual funds have low correlation with RLIIX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.19, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.19 | 0.00 | 0.14 | 83 | Diversified Portfolio | RLIIX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.02 | 0.13 | 0.46 | 68 | Diversified Portfolio | RLIIX vs MHELX | |
| ALPS/CoreCommodity Management CompleteCommoditiesS... | 0.22 | 0.30 | 0.37 | 84 | Commodities | RLIIX vs JCRAX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.37 | 0.57 | 0.63 | 88 | Diversified Portfolio | RLIIX vs FCSRX | |
| ALPS/Smith Short Duration Bond Fund | 0.38 | 0.31 | 0.29 | 91 | Short-Term Bond | RLIIX vs SMRSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for RLIIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Innovative Industrial Properties, Inc. (IIPR) (Real Estate) with a 1Y correlation of 0.33, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Innovative Industrial Properties, Inc. | 0.33 | 0.44 | 0.52 | 71 | Real Estate |
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