Looking to diversify beyond SMGIX? The mutual funds below have the lowest correlation with SMGIX — 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 SMGIX.
Best Diversifiers for SMGIX
15 mutual funds have low correlation with SMGIX (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 0.05, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Columbia Ultra Short Term Bond Fund | 0.05 | 0.07 | 0.05 | 99 | Ultrashort Bond | SMGIX vs CMGUX | |
| Columbia New York Intermediate Municipal Bond Fund | 0.14 | 0.15 | 0.11 | 74 | Municipal Bonds | SMGIX vs GNYTX | |
| Columbia California Intermediate Municipal Bond Fu... | 0.15 | 0.11 | 0.09 | 69 | Municipal Bonds | SMGIX vs NCMAX | |
| Columbia Tax-Exempt Fund | 0.16 | 0.14 | 0.12 | 71 | Municipal Bonds | SMGIX vs COLTX | |
| Columbia Strategic New York Municipal Income Fund | 0.16 | 0.14 | 0.11 | 71 | Municipal Bonds | SMGIX vs COLNX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SMGIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SMGIX and solid risk/return profiles. The least correlated is Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.13, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.13 | 0.00 | 0.14 | 63 | Communication Services | |
| Chubb Limited | -0.12 | 0.05 | 0.23 | 68 | Financial Services | |
| Kinder Morgan, Inc. | -0.03 | 0.19 | 0.34 | 71 | Energy | |
| Novartis AG | 0.23 | 0.20 | 0.27 | 80 | Healthcare | |
| Becton, Dickinson and Company | 0.26 | 0.29 | 0.33 | 51 | Healthcare |
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