Looking to diversify beyond SBNYX? The mutual funds below have historically moved differently from SBNYX, 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 SBNYX
11 mutual funds have low correlation with SBNYX (below 0.3), 2 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.05, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.05 | 0.15 | 0.20 | 91 | Municipal Bonds | SBNYX vs DCARX | |
| DFA Municipal Real Return Portfolio | -0.00 | 0.18 | 0.21 | 94 | Municipal Bonds | SBNYX vs DMREX | |
| JPMorgan Ultra-Short Municipal Fund | 0.19 | 0.30 | 0.37 | 98 | Municipal Bonds | SBNYX vs USMSX | |
| Federated Hermes Conservative Municipal Microshort... | 0.22 | 0.18 | 0.14 | 99 | Municipal Bonds | SBNYX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.23 | 0.20 | 0.19 | 99 | Municipal Bonds | SBNYX vs TFCYX |
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