Looking to diversify beyond SHCDX? The mutual funds below have historically moved differently from SHCDX, 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 SHCDX
0 mutual funds have low correlation with SHCDX (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley Emerging Markets Domestic Fund (EDD) (Emerging Markets Bonds) with a 1Y correlation of 0.37, roughly unchanged from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Emerging Markets Domestic Fund | 0.37 | 0.32 | 0.31 | 53 | Emerging Markets Bonds | SHCDX vs EDD | |
| PIMCO Emerging Markets Currency and Short-Term Inv... | 0.40 | 0.30 | 0.35 | 76 | Emerging Markets Bonds | SHCDX vs PLMIX | |
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.43 | 0.59 | 0.61 | 96 | Emerging Markets Bonds | SHCDX vs DBLLX | |
| Templeton Sustainable Emerging Markets Bond Fund | 0.45 | 0.43 | 0.45 | 63 | Emerging Markets Bonds | SHCDX vs FEMZX | |
| Eaton Vance Emerging Markets Local Income Fund | 0.46 | 0.39 | 0.44 | 76 | Emerging Markets Bonds | SHCDX vs EEIAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SHCDX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Dow Inc. (DOW) (Basic Materials) with a 1Y correlation of 0.02, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Dow Inc. | 0.02 | 0.11 | 0.12 | 73 | Basic Materials |
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