Looking to diversify beyond SMGIX? The mutual funds below have historically moved differently from SMGIX, 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 SMGIX
17 mutual funds have low correlation with SMGIX (below 0.3), 1 of which are negatively correlated. The least correlated is Columbia Commodity Strategy Fund (CCSZX) (Commodities) with a 1Y correlation of -0.06, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Columbia Commodity Strategy Fund | -0.06 | 0.05 | 0.13 | 88 | Commodities | SMGIX vs CCSZX | |
| Columbia Ultra Short Term Bond Fund | 0.08 | 0.08 | 0.06 | 99 | Ultrashort Bond | SMGIX vs CMGUX | |
| Columbia New York Intermediate Municipal Bond Fund | 0.16 | 0.15 | 0.11 | 69 | Municipal Bonds | SMGIX vs GNYTX | |
| Columbia California Intermediate Municipal Bond Fu... | 0.16 | 0.10 | 0.10 | 61 | Municipal Bonds | SMGIX vs NCMAX | |
| Columbia Massachusetts Intermediate Municipal Bond... | 0.18 | 0.13 | 0.11 | 64 | Municipal Bonds | SMGIX vs SEMAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SMGIX, 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 Chubb Limited (CB) (Financial Services) with a 1Y correlation of -0.22, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chubb Limited | -0.22 | 0.02 | 0.24 | 87 | Financial Services | |
| Verizon Communications Inc. | -0.19 | -0.03 | 0.12 | 66 | Communication Services | |
| Kinder Morgan, Inc. | -0.10 | 0.16 | 0.31 | 69 | Energy | |
| Berkshire Hathaway Inc. | 0.04 | 0.30 | 0.49 | 61 | Financial Services | |
| NextEra Energy, Inc. | 0.04 | 0.14 | 0.26 | 77 | Utilities |
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