Looking to diversify beyond SCJIX? The mutual funds below have historically moved differently from SCJIX, 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 SCJIX
2 mutual funds have low correlation with SCJIX (below 0.3), 0 of which are negatively correlated. The least correlated is Columbia High Yield Municipal Fund (SRHMX) (High Yield Muni) with a 1Y correlation of 0.21, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Columbia High Yield Municipal Fund | 0.21 | 0.13 | 0.12 | 94 | High Yield Muni | SCJIX vs SRHMX | |
| Columbia Strategic Municipal Income Fund | 0.22 | 0.15 | 0.12 | 86 | Municipal Bonds | SCJIX vs INTAX | |
| Cullen Enhanced Equity Income Fund | 0.37 | 0.51 | 0.65 | 52 | Derivative Income | SCJIX vs ENHNX | |
| MFS Emerging Markets Debt Fund | 0.44 | 0.31 | 0.32 | 79 | Emerging Markets Bonds | SCJIX vs MEDIX | |
| BlackRock Event Driven Equity Fund | 0.44 | 0.53 | 0.64 | 82 | Event Driven | SCJIX vs BILPX |
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