Looking to diversify beyond SMPIX? The mutual funds below have the lowest correlation with SMPIX — 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 SMPIX.
Best Diversifiers for SMPIX
3 mutual funds have low correlation with SMPIX (below 0.3), 0 of which are negatively correlated. The least correlated is Oil Equipment & Services UltraSector ProFund (OEPIX) (Energy Equities) with a 1Y correlation of 0.21, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Oil Equipment & Services UltraSector ProFund | 0.21 | 0.24 | 0.29 | 70 | Energy Equities | SMPIX vs OEPIX | |
| ProFunds Pharmaceuticals UltraSector Fund | 0.25 | 0.28 | 0.34 | 73 | Leveraged Equities | SMPIX vs PHPIX | |
| ProFunds Large Cap Value ProFund | 0.29 | 0.37 | 0.51 | 55 | Large Cap Value Equities | SMPIX vs LVPIX | |
| ProFunds Biotechnology UltraSector Fund | 0.30 | 0.35 | 0.42 | 85 | Leveraged Equities | SMPIX vs BIPIX | |
| ProFunds Small Cap Value Fund | 0.35 | 0.37 | 0.50 | 63 | Small Cap Value Equities | SMPIX vs SVPIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SMPIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SMPIX and solid risk/return profiles. The least correlated is QUALCOMM Incorporated (QCOM) (Technology) with a 1Y correlation of 0.40, down from 0.71 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| QUALCOMM Incorporated | 0.40 | 0.59 | 0.71 | 71 | Technology | |
| Advanced Micro Devices, Inc. | 0.67 | 0.68 | 0.76 | 97 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.71 | 0.74 | 0.75 | 95 | Technology | |
| Broadcom Inc. | 0.75 | 0.79 | 0.80 | 75 | Technology | |
| NVIDIA Corporation | 0.87 | 0.91 | 0.92 | 76 | Technology |
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