Looking to diversify beyond SHLMX? The mutual funds below have historically moved differently from SHLMX, 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 SHLMX
0 mutual funds have low correlation with SHLMX (below 0.3), 0 of which are negatively correlated. The least correlated is DoubleLine Low Duration Emerging Markets Fixed Income Fund (DBLLX) (Emerging Markets Bonds) with a 1Y correlation of 0.42, roughly unchanged from 0.41 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.42 | 0.40 | 0.41 | 98 | Emerging Markets Bonds | SHLMX vs DBLLX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.43 | 0.40 | 0.47 | 57 | Emerging Markets Bonds | SHLMX vs EDD | |
| Virtus Stone Harbor Emerg Mkts Corp Dbt | 0.51 | 0.44 | 0.46 | 94 | Emerging Markets Bonds | SHLMX vs SHCDX | |
| DoubleLine Emerging Markets Fixed Income Fund | 0.52 | 0.45 | 0.49 | 74 | Emerging Markets Bonds | SHLMX vs DBLEX | |
| American Beacon Developing World Income Fund Class... | 0.53 | 0.42 | 0.43 | 99 | Emerging Markets Bonds | SHLMX vs AGEYX |
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