Looking to diversify beyond SNIGX? The mutual funds below have historically moved differently from SNIGX, 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 SNIGX
2 mutual funds have low correlation with SNIGX (below 0.3), 0 of which are negatively correlated. The least correlated is SIT Minnesota Tax Free Income Fund (SMTFX) (Municipal Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SIT Minnesota Tax Free Income Fund | 0.16 | 0.09 | 0.11 | 84 | Municipal Bonds | SNIGX vs SMTFX | |
| SIT Tax Free Income Fund | 0.20 | 0.10 | 0.13 | 91 | Municipal Bonds | SNIGX vs SNTIX | |
| Sit Small Cap Dividend Growth Fund | 0.57 | 0.62 | 0.72 | 67 | Small Cap Blend Equities | SNIGX vs SSCDX | |
| ICON Equity Fund | 0.59 | 0.58 | 0.69 | 79 | Large Cap Growth Equities | SNIGX vs IOLZX | |
| Provident Trust Strategy Fund | 0.62 | 0.70 | 0.81 | 51 | Large Cap Growth Equities | SNIGX vs PROVX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SNIGX, 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 Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.26, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.26 | -0.07 | 0.09 | 85 | Energy | |
| Shell plc | -0.03 | 0.08 | 0.19 | 80 | Energy | |
| Franco-Nevada Corporation | 0.26 | 0.19 | 0.23 | 69 | Basic Materials | |
| Sprott Physical Gold Trust | 0.29 | 0.13 | 0.10 | 62 | Financial Services | |
| Newmont Corporation | 0.32 | 0.20 | 0.19 | 75 | Basic Materials |
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