Looking to diversify beyond SIDNX? The mutual funds below have the lowest correlation with SIDNX — 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 SIDNX.
Best Diversifiers for SIDNX
1 mutual funds have low correlation with SIDNX (below 0.3), 0 of which are negatively correlated. The least correlated is Hartford Municipal Opportunities Fund (HHMIX) (Municipal Bonds) with a 1Y correlation of 0.24, up from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Municipal Opportunities Fund | 0.24 | 0.17 | 0.13 | 66 | Municipal Bonds | SIDNX vs HHMIX | |
| The Hartford Strategic Income Fund | 0.51 | 0.40 | 0.36 | 53 | Multisector Bonds | SIDNX vs HSNIX | |
| Allspring Small Company Value Fund | 0.64 | 0.64 | 0.69 | 50 | Small Cap Value Equities | SIDNX vs SCVAX | |
| PIMCO RAE PLUS International Fund | 0.66 | 0.68 | 0.70 | 79 | Foreign Large Cap Equities | SIDNX vs PTSIX | |
| Thornburg Global Opportunities Fund | 0.71 | 0.78 | 0.84 | 89 | Foreign Large Cap Equities | SIDNX vs THOIX |
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