Looking to diversify beyond SMCVX? The mutual funds below have historically moved differently from SMCVX, 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 SMCVX
4 mutual funds have low correlation with SMCVX (below 0.3), 1 of which are negatively correlated. The least correlated is ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) (Commodities) with a 1Y correlation of -0.11, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ALPS/CoreCommodity Management CompleteCommoditiesS... | -0.11 | 0.08 | 0.18 | 82 | Commodities | SMCVX vs JCRAX | |
| Nationwide Strategic Income A | 0.14 | 0.26 | 0.22 | 99 | Multisector Bonds | SMCVX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.23 | 0.30 | 0.23 | 99 | Multisector Bonds | SMCVX vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.28 | 0.29 | 0.31 | 96 | Multisector Bonds | SMCVX vs CBLDX | |
| Easterly Income Opportunities Fund | 0.50 | 0.58 | 0.55 | 82 | Multisector Bonds | SMCVX vs JSVIX |
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