Looking to diversify beyond SLMCX? The mutual funds below have historically moved differently from SLMCX, 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 SLMCX
16 mutual funds have low correlation with SLMCX (below 0.3), 0 of which are negatively correlated. The least correlated is Columbia Commodity Strategy Fund (CCSZX) (Commodities) with a 1Y correlation of 0.00, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Columbia Commodity Strategy Fund | 0.00 | 0.09 | 0.13 | 88 | Commodities | SLMCX vs CCSZX | |
| Columbia Ultra Short Term Bond Fund | 0.02 | 0.04 | 0.05 | 99 | Ultrashort Bond | SLMCX vs CMGUX | |
| Columbia Real Estate Equity Fund | 0.09 | 0.28 | 0.43 | 74 | REIT | SLMCX vs CREEX | |
| Columbia Strategic California Municipal Income Fun... | 0.14 | 0.09 | 0.09 | 67 | Municipal Bonds | SLMCX vs CLMPX | |
| Columbia Tax-Exempt Fund | 0.14 | 0.09 | 0.10 | 74 | Municipal Bonds | SLMCX vs COLTX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SLMCX, 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 JPMorgan Chase & Co. (JPM) (Financial Services) with a 1Y correlation of 0.30, down from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| JPMorgan Chase & Co. | 0.30 | 0.35 | 0.42 | 73 | Financial Services | |
| Equinix, Inc. | 0.30 | 0.36 | 0.43 | 85 | Real Estate | |
| Apple Inc | 0.31 | 0.43 | 0.59 | 90 | Technology | |
| Reaves Utility Income Trust | 0.46 | 0.35 | 0.39 | 55 | Financial Services | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.69 | 0.70 | 0.72 | 88 | Technology |
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