Looking to diversify beyond ASCIX? The mutual funds below have historically moved differently from ASCIX, 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 ASCIX
10 mutual funds have low correlation with ASCIX (below 0.3), 3 of which are negatively correlated. The least correlated is Cliffwater Enhanced Lending Fund (CELFX) (Nontraditional Bonds) with a 1Y correlation of -0.05, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Enhanced Lending Fund | -0.05 | 0.02 | 0.04 | 100 | Nontraditional Bonds | ASCIX vs CELFX | |
| Artisan Global Unconstrained Fund | -0.05 | -0.18 | — | 99 | Nontraditional Bonds | ASCIX vs APFPX | |
| Victory Pioneer Cat Bond Fund Class Y | -0.02 | — | — | 100 | Nontraditional Bonds | ASCIX vs CBYYX | |
| Putnam Mortgage Opportunities Fund | 0.02 | 0.04 | 0.05 | 88 | Nontraditional Bonds | ASCIX vs PMOTX | |
| Dunham Long/Short Credit Fund | 0.13 | 0.07 | 0.04 | 94 | Nontraditional Bonds | ASCIX vs DCAIX |
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