Looking to diversify beyond SMPIX? The mutual funds below have historically moved differently from SMPIX, 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 SMPIX
6 mutual funds have low correlation with SMPIX (below 0.3), 2 of which are negatively correlated. The least correlated is ProFunds UltraSector Oil & Gas Fund (ENPIX) (Leveraged Equities) with a 1Y correlation of -0.12, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraSector Oil & Gas Fund | -0.12 | 0.03 | 0.16 | 63 | Leveraged Equities | SMPIX vs ENPIX | |
| Invesco Energy Fund | -0.07 | 0.05 | 0.18 | 73 | Energy Equities | SMPIX vs FSTEX | |
| ProFunds Pharmaceuticals UltraSector Fund | 0.22 | 0.27 | 0.33 | 95 | Leveraged Equities | SMPIX vs PHPIX | |
| ProFunds Large Cap Value ProFund | 0.26 | 0.34 | 0.50 | 74 | Large Cap Value Equities | SMPIX vs LVPIX | |
| Oil Equipment & Services UltraSector ProFund | 0.29 | 0.26 | 0.29 | 77 | Energy Equities | SMPIX vs OEPIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SMPIX, 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 Advanced Micro Devices, Inc. (AMD) (Technology) with a 1Y correlation of 0.72, roughly unchanged from 0.76 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Advanced Micro Devices, Inc. | 0.72 | 0.69 | 0.76 | 94 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.73 | 0.75 | 0.76 | 87 | Technology | |
| Broadcom Inc. | 0.77 | 0.80 | 0.81 | 67 | Technology | |
| NVIDIA Corporation | 0.84 | 0.90 | 0.91 | 56 | Technology |
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