Looking to diversify beyond SHRAX? The mutual funds below have the lowest correlation with SHRAX — 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 SHRAX.
Best Diversifiers for SHRAX
50 mutual funds have low correlation with SHRAX (below 0.3), 0 of which are negatively correlated. The least correlated is Western Asset Intermediate Maturity CA Municipals Fund (ITCAX) (Municipal Bonds) with a 1Y correlation of 0.14, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Western Asset Intermediate Maturity CA Municipals ... | 0.14 | 0.11 | 0.10 | 76 | Municipal Bonds | SHRAX vs ITCAX | |
| Western Asset Massachusetts Municipals Fund | 0.14 | 0.13 | 0.11 | 78 | Municipal Bonds | SHRAX vs SLMMX | |
| Western Asset Pennsylvania Municipals Fund | 0.15 | 0.12 | 0.11 | 84 | Municipal Bonds | SHRAX vs SBPAX | |
| Western Asset Short Duration Municipal Income Fund | 0.15 | 0.11 | 0.11 | 77 | Municipal Bonds | SHRAX vs SHDAX | |
| Franklin Louisiana Tax Free Income Fund | 0.15 | 0.11 | 0.11 | 60 | Municipal Bonds | SHRAX vs FKLAX |
See all 132 diversifiers for SHRAX
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