Looking to diversify beyond SHPAX? The mutual funds below have historically moved differently from SHPAX, 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 SHPAX
2 mutual funds have low correlation with SHPAX (below 0.3), 0 of which are negatively correlated. The least correlated is Saratoga Municipal Bond Portfolio (SMBPX) (Ultrashort Bond) with a 1Y correlation of 0.01, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Saratoga Municipal Bond Portfolio | 0.01 | 0.09 | 0.06 | 95 | Ultrashort Bond | SHPAX vs SMBPX | |
| Saratoga International Equity Portfolio | 0.23 | 0.36 | 0.44 | 68 | Foreign Large Cap Equities | SHPAX vs SIEPX | |
| Eventide Healthcare & Life Sciences Fund | 0.45 | 0.50 | 0.52 | 89 | Health & Biotech Equities | SHPAX vs ETIHX | |
| abrdn World Healthcare Fund | 0.54 | 0.54 | 0.59 | 84 | Health & Biotech Equities | SHPAX vs THW | |
| Fidelity Advisor Biotechnology Fund Class C | 0.54 | 0.60 | 0.62 | 95 | Health & Biotech Equities | SHPAX vs FBTCX |
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