Looking to diversify beyond SHMMX? The mutual funds below have the lowest correlation with SHMMX — 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 SHMMX.
Best Diversifiers for SHMMX
13 mutual funds have low correlation with SHMMX (below 0.3), 2 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.03, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.03 | 0.16 | 0.20 | 96 | Municipal Bonds | SHMMX vs DCARX | |
| DFA Municipal Real Return Portfolio | -0.01 | 0.18 | 0.20 | 95 | Municipal Bonds | SHMMX vs DMREX | |
| JPMorgan Ultra-Short Municipal Fund | 0.14 | 0.33 | 0.37 | 99 | Municipal Bonds | SHMMX vs USMSX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.18 | 0.27 | — | 100 | Municipal Bonds | SHMMX vs DFABX | |
| DFA NY Municipal Bond Portfolio | 0.18 | 0.33 | 0.40 | 99 | Municipal Bonds | SHMMX vs DNYMX |
See all 21 diversifiers for SHMMX
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