Looking to diversify beyond SKTAX? The mutual funds below have the lowest correlation with SKTAX — 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 SKTAX.
Best Diversifiers for SKTAX
4 mutual funds have low correlation with SKTAX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.06, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.06 | 0.20 | 0.53 | 75 | Diversified Portfolio | SKTAX vs MHELX | |
| SEI Institutional Investments Trust Opportunistic ... | 0.23 | 0.17 | 0.21 | 99 | Ultrashort Bond | SKTAX vs ENIAX | |
| SEI Tax Exempt Trust Intermediate-Term Municipal F... | 0.27 | 0.19 | 0.14 | 66 | Municipal Bonds | SKTAX vs SEIMX | |
| SEI Tax Exempt Trust California Municipal Bond Fun... | 0.29 | 0.21 | 0.14 | 54 | Municipal Bonds | SKTAX vs SBDAX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.56 | 0.62 | 82 | Diversified Portfolio | SKTAX vs FCSRX |
See all 26 diversifiers for SKTAX
To view more results, upgrade your current subscription plan.
Diversification Analysis
Build a portfolio that complements SKTAX
Add SKTAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with SKTAX