Looking to diversify beyond SHSAX? The mutual funds below have historically moved differently from SHSAX, 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 SHSAX
4 mutual funds have low correlation with SHSAX (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco Energy Fund (FSTEX) (Energy Equities) with a 1Y correlation of -0.07, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Energy Fund | -0.07 | 0.08 | 0.17 | 73 | Energy Equities | SHSAX vs FSTEX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.04 | 0.08 | 0.07 | 97 | Equity Market Neutral | SHSAX vs BDMIX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.07 | 0.12 | 0.01 | 66 | Systematic Trend | SHSAX vs ASFYX | |
| Fidelity Asset Manager 85% Fund | 0.30 | 0.49 | 0.60 | 74 | Diversified Portfolio | SHSAX vs FAMRX | |
| iShares S&P 500 Index Fund Class K | 0.31 | 0.50 | 0.62 | 63 | S&P 500 | SHSAX vs WFSPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SHSAX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Royce Value Trust Inc. (RVT) (Financial Services) with a 1Y correlation of 0.34, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Royce Value Trust Inc. | 0.34 | 0.46 | 0.52 | 85 | Financial Services |
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