Looking to diversify beyond SCMTX? The mutual funds below have historically moved differently from SCMTX, 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 SCMTX
17 mutual funds have low correlation with SCMTX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of 0.01, down from 0.21 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 | 0.01 | 0.15 | 0.21 | 91 | Municipal Bonds | SCMTX vs DCARX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05 | 0.12 | 0.10 | 99 | Municipal Bonds | SCMTX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.05 | 0.20 | 0.19 | 99 | Municipal Bonds | SCMTX vs TFCYX | |
| DFA Municipal Real Return Portfolio | 0.10 | 0.20 | 0.23 | 94 | Municipal Bonds | SCMTX vs DMREX | |
| DWS RREEF Real Assets Fund | 0.15 | 0.25 | 0.21 | 77 | Global Allocation | SCMTX vs AAAZX |
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