Looking to diversify beyond SMCIX? The mutual funds below have historically moved differently from SMCIX, 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 SMCIX
1 mutual funds have low correlation with SMCIX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Global Equity Market Neutral Fund Class I (BDMIX) (Equity Market Neutral) with a 1Y correlation of 0.28, up from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Equity Market Neutral Fund Class ... | 0.28 | 0.12 | 0.05 | 97 | Equity Market Neutral | SMCIX vs BDMIX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.32 | 0.24 | 0.11 | 66 | Systematic Trend | SMCIX vs ASFYX | |
| BlackRock Enhanced Equity Dividend Trust | 0.61 | 0.64 | 0.69 | 64 | Derivative Income | SMCIX vs BDJ | |
| DFA International Small Company Portfolio | 0.64 | 0.65 | 0.69 | 60 | Foreign Small & Mid Cap Equities, Small Cap Blend Equities | SMCIX vs DFISX | |
| Hennessy Cornerstone Growth Fund | 0.71 | 0.81 | 0.81 | 53 | Small Cap Blend Equities | SMCIX vs HFCGX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SMCIX, 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 Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.39, roughly unchanged from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.39 | 0.39 | 0.48 | 60 | Consumer Cyclical |
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