Looking to diversify beyond SCLAX? The mutual funds below have the lowest correlation with SCLAX — 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 SCLAX.
Best Diversifiers for SCLAX
4 mutual funds have low correlation with SCLAX (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 -0.13, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.13 | 0.09 | 0.18 | 76 | Diversified Portfolio | SCLAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.13 | 0.22 | 0.44 | 63 | Diversified Portfolio | SCLAX vs MHELX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.20 | 0.12 | 0.09 | 91 | Long-Short | SCLAX vs BDMIX | |
| Hennessy Balanced Fund | 0.28 | 0.41 | 0.49 | 65 | Diversified Portfolio | SCLAX vs HBFBX | |
| Concorde Wealth Management Fund | 0.32 | 0.51 | 0.58 | 71 | Diversified Portfolio | SCLAX vs CONWX |
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