Looking to diversify beyond CAF? The mutual funds below have the lowest correlation with CAF — 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 CAF.
Best Diversifiers for CAF
1 mutual funds have low correlation with CAF (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio (MUIIX) (Ultrashort Bond) with a 1Y correlation of 0.01, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.01 | 0.02 | 0.05 | 99 | Ultrashort Bond | CAF vs MUIIX | |
| Matthews China Small Companies Fund | 0.48 | 0.60 | 0.65 | 91 | China Equities | CAF vs MCSMX | |
| Fidelity China Region Fund | 0.56 | 0.61 | 0.67 | 95 | China Equities | CAF vs FHKCX | |
| Fidelity Advisor China Region Fund Class I | 0.56 | 0.61 | 0.67 | 95 | China Equities | CAF vs FHKIX | |
| Fidelity Advisor China Region Fund Class C | 0.56 | 0.61 | 0.67 | 95 | China Equities | CAF vs FCHKX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CAF, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CAF and solid risk/return profiles. The least correlated is China Yuchai International Limited (CYD) (Industrials) with a 1Y correlation of 0.23, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| China Yuchai International Limited | 0.23 | 0.15 | 0.18 | 95 | Industrials | |
| Ping An Insurance Company of China | 0.45 | 0.56 | 0.58 | 72 | Financial Services |
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