Looking to diversify beyond SCMAX? The mutual funds below have the lowest correlation with SCMAX — 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 SCMAX.
Best Diversifiers for SCMAX
18 mutual funds have low correlation with SCMAX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.05 | 0.14 | 0.10 | 99 | Municipal Bonds | SCMAX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.06 | 0.17 | 0.17 | 99 | Municipal Bonds | SCMAX vs TFCYX | |
| DFA Short Term Municipal Bond Portfolio | 0.14 | 0.26 | 0.37 | 99 | Municipal Bonds | SCMAX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 0.14 | 0.25 | 0.26 | 99 | Municipal Bonds | SCMAX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | 0.19 | 0.16 | 0.25 | 99 | Municipal Bonds | SCMAX vs APUSX |
See all 26 diversifiers for SCMAX
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