Looking to diversify beyond CABDX? The mutual funds below have historically moved differently from CABDX, 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 CABDX
3 mutual funds have low correlation with CABDX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Equity Income Fund (LEIFX) (Dividend) with a 1Y correlation of 0.22, down from 0.76 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Equity Income Fund | 0.22 | 0.55 | 0.76 | 72 | Dividend, Large Cap Value Equities | CABDX vs LEIFX | |
| AB Municipal Income Shares | 0.23 | 0.17 | 0.12 | 81 | High Yield Muni | CABDX vs MISHX | |
| GQG Partners US Quality Dividend Income Fund | 0.25 | 0.57 | 0.69 | 62 | Quality Factor, Large Cap Value Equities | CABDX vs GQHPX | |
| Voya Corporate Leaders Trust Fund | 0.33 | 0.58 | 0.70 | 93 | Large Cap Value Equities | CABDX vs LEXCX | |
| AMG Yacktman Focused Fund | 0.40 | 0.63 | 0.75 | 89 | Large Cap Value Equities | CABDX vs YAFFX |
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