Looking to diversify beyond SHGTX? The mutual funds below have the lowest correlation with SHGTX — 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 SHGTX.
Best Diversifiers for SHGTX
15 mutual funds have low correlation with SHGTX (below 0.3), 0 of which are negatively correlated. The least correlated is Columbia Ultra Short Term Bond Fund (CMGUX) (Ultrashort Bond) with a 1Y correlation of 0.00, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Columbia Ultra Short Term Bond Fund | 0.00 | 0.03 | 0.04 | 99 | Ultrashort Bond | SHGTX vs CMGUX | |
| Columbia Strategic California Municipal Income Fun... | 0.11 | 0.07 | 0.08 | 69 | Municipal Bonds | SHGTX vs CLMPX | |
| Columbia New York Intermediate Municipal Bond Fund | 0.12 | 0.11 | 0.10 | 75 | Municipal Bonds | SHGTX vs GNYTX | |
| Columbia Strategic New York Municipal Income Fund | 0.13 | 0.09 | 0.09 | 73 | Municipal Bonds | SHGTX vs COLNX | |
| Columbia Tax-Exempt Fund | 0.13 | 0.09 | 0.10 | 70 | Municipal Bonds | SHGTX vs COLTX |
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