Looking to diversify beyond SNOIX? The mutual funds below have historically moved differently from SNOIX, 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 SNOIX
7 mutual funds have low correlation with SNOIX (below 0.3), 2 of which are negatively correlated. The least correlated is Vanguard Market Neutral Fund Institutional Shares (VMNIX) (Long-Short) with a 1Y correlation of -0.07, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Market Neutral Fund Institutional Shares | -0.07 | -0.04 | 0.05 | 97 | Long-Short | SNOIX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | -0.06 | -0.04 | 0.05 | 97 | Long-Short | SNOIX vs VMNFX | |
| Federated Hermes MDT Market Neutral A | 0.08 | -0.02 | — | 54 | Long-Short | SNOIX vs QAMNX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.20 | 0.07 | 0.04 | 97 | Equity Market Neutral | SNOIX vs BDMIX | |
| AQR Long-Short Equity Fund | 0.29 | 0.30 | 0.38 | 78 | Long-Short | SNOIX vs QLEIX |
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