Looking to diversify beyond SHDAX? The mutual funds below have historically moved differently from SHDAX, 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 SHDAX
13 mutual funds have low correlation with SHDAX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Income Fund Advisor Class (FRIAX) (Diversified Portfolio) with a 1Y correlation of 0.18, roughly unchanged from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Income Fund Advisor Class | 0.18 | 0.25 | 0.19 | 93 | Diversified Portfolio | SHDAX vs FRIAX | |
| Franklin Income Fund Class A1 | 0.19 | 0.26 | 0.21 | 87 | Diversified Portfolio | SHDAX vs FKINX | |
| DFA NY Municipal Bond Portfolio | 0.20 | 0.27 | 0.35 | 99 | Municipal Bonds | SHDAX vs DNYMX | |
| Templeton Institutional Fund International Equity ... | 0.21 | 0.14 | 0.10 | 63 | Foreign Large Cap Equities | SHDAX vs TFEQX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.22 | 0.21 | 0.19 | 72 | Diversified Portfolio, Municipal Bonds | SHDAX vs VTMFX |
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