Looking to diversify beyond SMIFX? The mutual funds below have historically moved differently from SMIFX, 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 SMIFX
5 mutual funds have low correlation with SMIFX (below 0.3), 2 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.02, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.02 | 0.02 | 0.16 | 83 | Diversified Portfolio | SMIFX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | -0.01 | 0.13 | 0.39 | 68 | Diversified Portfolio | SMIFX vs MHELX | |
| Hennessy Total Return Fund | 0.16 | 0.36 | 0.48 | 73 | Diversified Portfolio | SMIFX vs HDOGX | |
| Hennessy Balanced Fund | 0.19 | 0.39 | 0.50 | 91 | Diversified Portfolio | SMIFX vs HBFBX | |
| Crawford Multi-Asset Income Fund | 0.22 | 0.40 | 0.53 | 58 | Diversified Portfolio | SMIFX vs CMALX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SMIFX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.27, down from 0.49 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.27 | 0.42 | 0.49 | 90 | Technology |
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