Looking to diversify beyond SHNJX? The mutual funds below have the lowest correlation with SHNJX — 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 SHNJX.
Best Diversifiers for SHNJX
13 mutual funds have low correlation with SHNJX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.05, 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 | -0.05 | 0.15 | 0.20 | 96 | Municipal Bonds | SHNJX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.03 | 0.18 | 0.22 | 95 | Municipal Bonds | SHNJX vs DMREX | |
| DFA Short Term Municipal Bond Portfolio | 0.07 | 0.23 | 0.32 | 99 | Municipal Bonds | SHNJX vs DFSMX | |
| DFA NY Municipal Bond Portfolio | 0.14 | 0.28 | 0.37 | 99 | Municipal Bonds | SHNJX vs DNYMX | |
| Franklin Income Fund Advisor Class | 0.16 | 0.33 | 0.25 | 92 | Diversified Portfolio | SHNJX vs FRIAX |
See all 20 diversifiers for SHNJX
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