Looking to diversify beyond SCHAX? The mutual funds below have historically moved differently from SCHAX, 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 SCHAX
6 mutual funds have low correlation with SCHAX (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 -0.29, down from 0.08 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... | -0.29 | -0.08 | 0.08 | 69 | Diversified Portfolio | SCHAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.03 | 0.13 | 0.48 | 73 | Diversified Portfolio | SCHAX vs MHELX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.27 | 0.49 | 0.59 | 87 | Diversified Portfolio | SCHAX vs FSIRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.28 | 0.49 | 0.59 | 85 | Diversified Portfolio | SCHAX vs FCSRX | |
| Fidelity Strategic Real Return Fund | 0.29 | 0.50 | 0.60 | 94 | Diversified Portfolio | SCHAX vs FSRRX |
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