Looking to diversify beyond SHPIX? The mutual funds below have historically moved differently from SHPIX, 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 SHPIX
4 mutual funds have low correlation with SHPIX (below 0.3), 3 of which are negatively correlated. The least correlated is ProFunds UltraJapan Fund (UJPIX) (Leveraged Equities) with a 1Y correlation of -0.63, roughly unchanged from -0.62 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraJapan Fund | -0.63 | -0.59 | -0.62 | 88 | Leveraged Equities | SHPIX vs UJPIX | |
| ProFunds Biotechnology UltraSector Fund | -0.58 | -0.69 | -0.68 | 94 | Leveraged Equities | SHPIX vs BIPIX | |
| Comstock Capital Value Fund | -0.56 | -0.66 | -0.64 | 94 | Inverse Equities | SHPIX vs DRCVX | |
| ProFunds UltraSector Oil & Gas Fund | 0.02 | -0.27 | -0.39 | 63 | Leveraged Equities | SHPIX vs ENPIX |
Diversification Analysis
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