Looking to diversify beyond SCPAX? The mutual funds below have the lowest correlation with SCPAX — 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 SCPAX.
Best Diversifiers for SCPAX
4 mutual funds have low correlation with SCPAX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Tax Exempt Trust Intermediate-Term Municipal Fund (SEIMX) (Municipal Bonds) with a 1Y correlation of 0.20, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Tax Exempt Trust Intermediate-Term Municipal F... | 0.20 | 0.14 | 0.11 | 66 | Municipal Bonds | SCPAX vs SEIMX | |
| SEI Tax Exempt Trust California Municipal Bond Fun... | 0.23 | 0.16 | 0.10 | 54 | Municipal Bonds | SCPAX vs SBDAX | |
| SEI Institutional Investments Trust Opportunistic ... | 0.24 | 0.18 | 0.20 | 99 | Ultrashort Bond | SCPAX vs ENIAX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.29 | 0.14 | 0.12 | 72 | Large Cap Blend Equities | SCPAX vs SVPFX | |
| SEI Asset Allocation Trust Defensive Strategy Allo... | 0.47 | 0.40 | 0.41 | 99 | Diversified Portfolio | SCPAX vs STDAX |
See all 46 diversifiers for SCPAX
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