Looking to diversify beyond SLMCX? The mutual funds below have the lowest correlation with SLMCX — 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 SLMCX.
Best Diversifiers for SLMCX
14 mutual funds have low correlation with SLMCX (below 0.3), 0 of which are negatively correlated. The least correlated is Columbia Ultra Short Term Bond Fund (CMGUX) (Ultrashort Bond) with a 1Y correlation of 0.00, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Columbia Ultra Short Term Bond Fund | 0.00 | 0.03 | 0.04 | 99 | Ultrashort Bond | SLMCX vs CMGUX | |
| Columbia Strategic California Municipal Income Fun... | 0.11 | 0.07 | 0.08 | 67 | Municipal Bonds | SLMCX vs CLMPX | |
| Columbia New York Intermediate Municipal Bond Fund | 0.12 | 0.11 | 0.10 | 74 | Municipal Bonds | SLMCX vs GNYTX | |
| Columbia Tax-Exempt Fund | 0.12 | 0.09 | 0.10 | 71 | Municipal Bonds | SLMCX vs COLTX | |
| Columbia Strategic New York Municipal Income Fund | 0.13 | 0.09 | 0.09 | 71 | Municipal Bonds | SLMCX vs COLNX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLMCX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLMCX and solid risk/return profiles. The least correlated is JPMorgan Chase & Co. (JPM) (Financial Services) with a 1Y correlation of 0.33, roughly unchanged from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| JPMorgan Chase & Co. | 0.33 | 0.36 | 0.43 | 68 | Financial Services | |
| Apple Inc | 0.34 | 0.45 | 0.60 | 87 | Technology | |
| Reaves Utility Income Trust | 0.45 | 0.34 | 0.39 | 79 | Financial Services | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.67 | 0.70 | 0.72 | 93 | Technology | |
| Bloom Energy Corporation | 0.69 | 0.59 | 0.61 | 99 | Industrials |
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