Looking to diversify beyond CABDX? The mutual funds below have the lowest correlation with CABDX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from CABDX.
Best Diversifiers for CABDX
2 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) (Large Cap Value Equities) with a 1Y correlation of 0.14, down from 0.77 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Equity Income Fund | 0.14 | 0.58 | 0.77 | 53 | Large Cap Value Equities | CABDX vs LEIFX | |
| AB Municipal Income Shares | 0.18 | 0.15 | 0.11 | 62 | High Yield Muni | CABDX vs MISHX | |
| Fidelity Advisor Large Cap Fund Class I | 0.38 | 0.70 | 0.83 | 62 | Large Cap Value Equities | CABDX vs FALIX | |
| Voya Corporate Leaders Trust Fund | 0.39 | 0.61 | 0.72 | 52 | Large Cap Value Equities | CABDX vs LEXCX | |
| Fidelity Advisor Large Cap Fund Class C | 0.41 | 0.71 | 0.83 | 60 | Large Cap Value Equities | CABDX vs FLCCX |
See all 34 diversifiers for CABDX
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