Looking to diversify beyond SHDAX? The mutual funds below have the lowest correlation with SHDAX — 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 SHDAX.
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 DFA California Short Term Municipal Bond Portfolio (DFCMX) (Municipal Bonds) with a 1Y correlation of 0.15, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Short Term Municipal Bond Portfolio | 0.15 | 0.28 | 0.37 | 99 | Municipal Bonds | SHDAX vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 0.16 | 0.25 | 0.35 | 99 | Municipal Bonds | SHDAX vs DNYMX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.16 | 0.20 | 0.18 | 76 | Diversified Portfolio, Municipal Bonds | SHDAX vs VTMFX | |
| Franklin Income Fund Class A1 | 0.18 | 0.26 | 0.20 | 80 | Diversified Portfolio | SHDAX vs FKINX | |
| Franklin Income Fund Advisor Class | 0.18 | 0.24 | 0.19 | 86 | Diversified Portfolio | SHDAX vs FRIAX |
See all 22 diversifiers for SHDAX
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