Looking to diversify beyond SHRIX? The mutual funds below have the lowest correlation with SHRIX — 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 SHRIX.
Best Diversifiers for SHRIX
46 mutual funds have low correlation with SHRIX (below 0.3), 3 of which are negatively correlated. The least correlated is GMO Alternative Allocation Fund (GAAVX) (Multistrategy) with a 1Y correlation of -0.12, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GMO Alternative Allocation Fund | -0.12 | -0.04 | -0.03 | 74 | Multistrategy | SHRIX vs GAAVX | |
| FS Credit Income Fund Class I | -0.07 | 0.02 | 0.06 | 98 | Multistrategy | SHRIX vs FCRIX | |
| Morningstar Alternatives Fund | -0.02 | 0.04 | 0.02 | 77 | Multistrategy | SHRIX vs MSTVX | |
| Destinations Multi Strategy Alternatives Fund | 0.02 | 0.08 | 0.06 | 64 | Multistrategy | SHRIX vs DMSFX | |
| Stone Ridge Diversified Alternatives Fund | 0.02 | 0.13 | 0.16 | 92 | Multistrategy | SHRIX vs SRDAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SHRIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHRIX and solid risk/return profiles. The least correlated is General American Investors Company, Inc. (GAM) (Financial Services) with a 1Y correlation of 0.11, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| General American Investors Company, Inc. | 0.11 | 0.07 | 0.04 | 92 | Financial Services |
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