Looking to diversify beyond SHMDX? The mutual funds below have historically moved differently from SHMDX, 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 SHMDX
0 mutual funds have low correlation with SHMDX (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 0.47, roughly unchanged from 0.39 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 | 0.47 | 0.38 | 0.39 | 57 | Emerging Markets Bonds | SHMDX vs EDD | |
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.48 | 0.57 | 0.60 | 98 | Emerging Markets Bonds | SHMDX vs DBLLX | |
| Artisan Emerging Markets Debt Opportunities Fund | 0.62 | 0.52 | — | 98 | Emerging Markets Bonds | SHMDX vs APFOX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.64 | 0.50 | 0.52 | 98 | Emerging Markets Bonds | SHMDX vs EELDX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.67 | 0.51 | 0.53 | 98 | Emerging Markets Bonds | SHMDX vs EIDOX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SHMDX, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.20, roughly unchanged from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.21 | 0.15 | 0.24 | 56 | Technology | |
| Eaton Corporation plc | 0.23 | 0.20 | 0.23 | 53 | Industrials | |
| Lam Research Corporation | 0.33 | 0.22 | 0.26 | 96 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.36 | 0.25 | 0.27 | 87 | Technology |
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