Looking to diversify beyond SSMGX? The mutual funds below have historically moved differently from SSMGX, 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 SSMGX
2 mutual funds have low correlation with SSMGX (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 0.19, roughly unchanged from 0.12 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 | 0.19 | 0.09 | 0.12 | 76 | Municipal Bonds | SSMGX vs SMTFX | |
| SIT Tax Free Income Fund | 0.19 | 0.12 | 0.15 | 91 | Municipal Bonds | SSMGX vs SNTIX | |
| State Street International Stock Selection Fund | 0.49 | 0.52 | 0.62 | 54 | Foreign Large Cap Equities | SSMGX vs SSAIX | |
| SIT Developing Markets Growth Fund | 0.61 | 0.60 | 0.64 | 65 | Emerging Markets Equities | SSMGX vs SDMGX | |
| Sit Global Dividend Growth Fund | 0.74 | 0.78 | 0.83 | 62 | Global Equities | SSMGX vs GDGIX |
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