Looking to diversify beyond SSMHX? The mutual funds below have historically moved differently from SSMHX, 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 SSMHX
1 mutual funds have low correlation with SSMHX (below 0.3), 0 of which are negatively correlated. The least correlated is Elfun Tax Exempt Income Fund (ELFTX) (Municipal Bonds) with a 1Y correlation of 0.27, up from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Elfun Tax Exempt Income Fund | 0.27 | 0.16 | 0.13 | 79 | Municipal Bonds | SSMHX vs ELFTX | |
| State Street International Stock Selection Fund | 0.48 | 0.52 | 0.61 | 59 | Foreign Large Cap Equities | SSMHX vs SSAIX | |
| BlackRock High Yield Bond Portfolio Institutional ... | 0.59 | 0.56 | 0.57 | 79 | High Yield Bonds | SSMHX vs BHYIX | |
| State Street Hedged International Developed Equity... | 0.64 | 0.63 | 0.68 | 86 | Foreign Large Cap Equities | SSMHX vs SSHQX | |
| State Street Global All Cap Equity ex-U.S. Index F... | 0.65 | 0.63 | 0.67 | 72 | Foreign Large Cap Equities | SSMHX vs SSGJX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SSMHX, 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 Alcoa Corporation (AA) (Basic Materials) with a 1Y correlation of 0.46, roughly unchanged from 0.51 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alcoa Corporation | 0.46 | 0.50 | 0.51 | 71 | Basic Materials |
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