Looking to diversify beyond SHAPX? The mutual funds below have the lowest correlation with SHAPX — 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 SHAPX.
Best Diversifiers for SHAPX
49 mutual funds have low correlation with SHAPX (below 0.3), 0 of which are negatively correlated. The least correlated is Western Asset Short Duration Municipal Income Fund (SHDAX) (Municipal Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Western Asset Short Duration Municipal Income Fund | 0.09 | 0.09 | 0.07 | 78 | Municipal Bonds | SHAPX vs SHDAX | |
| Western Asset Intermediate Maturity CA Municipals ... | 0.13 | 0.12 | 0.08 | 75 | Municipal Bonds | SHAPX vs ITCAX | |
| Western Asset Pennsylvania Municipals Fund | 0.14 | 0.12 | 0.10 | 80 | Municipal Bonds | SHAPX vs SBPAX | |
| Franklin Virginia Tax Free Income Fund | 0.14 | 0.12 | 0.09 | 70 | Municipal Bonds | SHAPX vs FRVAX | |
| Western Asset Municipal High Income Fund | 0.14 | 0.12 | 0.10 | 63 | High Yield Muni | SHAPX vs STXAX |
See all 133 diversifiers for SHAPX
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