Looking to diversify beyond SPMIX? The mutual funds below have historically moved differently from SPMIX, 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 SPMIX
1 mutual funds have low correlation with SPMIX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Global Equity Market Neutral Fund Class I (BDMIX) (Equity Market Neutral) with a 1Y correlation of 0.29, up from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Equity Market Neutral Fund Class ... | 0.29 | 0.14 | 0.07 | 97 | Equity Market Neutral | SPMIX vs BDMIX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.36 | 0.27 | 0.12 | 66 | Systematic Trend | SPMIX vs ASFYX | |
| BlackRock Enhanced Equity Dividend Trust | 0.63 | 0.66 | 0.71 | 64 | Derivative Income | SPMIX vs BDJ | |
| 13D Activist Fund | 0.71 | 0.82 | 0.87 | 78 | Mid Cap Blend Equities | SPMIX vs DDDIX | |
| Gabelli Value 25 Fund | 0.73 | 0.81 | 0.86 | 80 | Mid Cap Blend Equities | SPMIX vs GABVX |
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