Looking to diversify beyond SNIGX? The mutual funds below have the lowest correlation with SNIGX — 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 SNIGX.
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 0.15, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SIT Minnesota Tax Free Income Fund | 0.15 | 0.09 | 0.10 | 81 | Municipal Bonds | SNIGX vs SMTFX | |
| SIT Tax Free Income Fund | 0.18 | 0.10 | 0.13 | 79 | Municipal Bonds | SNIGX vs SNTIX | |
| Baron Partners Fund | 0.52 | 0.59 | 0.68 | 52 | Large Cap Growth Equities | SNIGX vs BPTRX | |
| ICON Equity Fund | 0.58 | 0.57 | 0.69 | 85 | Large Cap Growth Equities | SNIGX vs IOLZX | |
| Sit Small Cap Dividend Growth Fund | 0.58 | 0.63 | 0.72 | 76 | Small Cap Blend Equities | SNIGX vs SSCDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SNIGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SNIGX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.24, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.24 | -0.07 | 0.10 | 72 | Energy | |
| Shell plc | -0.04 | 0.08 | 0.19 | 64 | Energy | |
| Sprott Physical Gold Trust | 0.23 | 0.13 | 0.10 | 61 | Financial Services | |
| Franco-Nevada Corporation | 0.26 | 0.21 | 0.24 | 64 | Basic Materials | |
| Agnico Eagle Mines Limited | 0.29 | 0.21 | 0.18 | 62 | Basic Materials |
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