Looking to diversify beyond SMDIX? The mutual funds below have historically moved differently from SMDIX, 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 SMDIX
1 mutual funds have low correlation with SMDIX (below 0.3), 0 of which are negatively correlated. The least correlated is Hartford Municipal Opportunities Fund (HHMIX) (Municipal Bonds) with a 1Y correlation of 0.24, up from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Municipal Opportunities Fund | 0.24 | 0.16 | 0.12 | 55 | Municipal Bonds | SMDIX vs HHMIX | |
| Hartford Schroders Emerging Markets Equity Fund Cl... | 0.55 | 0.55 | 0.58 | 73 | Emerging Markets Equities | SMDIX vs SEMNX | |
| Hartford International Value Fund | 0.57 | 0.61 | 0.67 | 87 | Foreign Large Cap Equities | SMDIX vs HILYX | |
| The Hartford Equity Income Fund | 0.68 | 0.79 | 0.84 | 80 | Dividend, Large Cap Value Equities | SMDIX vs HQIYX | |
| John Hancock Variable Insurance Trust Mid Cap Inde... | 0.69 | 0.79 | 0.87 | 68 | Mid Cap Blend Equities | SMDIX vs JECIX |
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