Looking to diversify beyond SMRSX? The mutual funds below have historically moved differently from SMRSX, 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 SMRSX
5 mutual funds have low correlation with SMRSX (below 0.3), 2 of which are negatively correlated. The least correlated is ALPS/CoreCommodity Management CompleteCommoditiesSM Strategy Fund (JCRAX) (Commodities) with a 1Y correlation of -0.12, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ALPS/CoreCommodity Management CompleteCommoditiesS... | -0.12 | -0.00 | 0.05 | 82 | Commodities | SMRSX vs JCRAX | |
| Leader Short Term High Yield Bond Fund | -0.01 | 0.03 | 0.15 | 78 | Short-Term Bond | SMRSX vs LCCMX | |
| GuidePath Absolute Return Allocation Fund | 0.16 | 0.54 | 0.60 | 55 | Short-Term Bond | SMRSX vs GPARX | |
| GuidepathConservative Income Fund | 0.25 | 0.35 | 0.42 | 99 | Short-Term Bond | SMRSX vs GPICX | |
| DFA Two-Year Fixed Income Portfolio | 0.28 | 0.07 | 0.38 | 100 | Short-Term Bond | SMRSX vs DFCFX |
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