Looking to diversify beyond CAIFX? The mutual funds below have historically moved differently from CAIFX, 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 CAIFX
1 mutual funds have low correlation with CAIFX (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 0.30, down from 0.73 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 | 0.30 | 0.53 | 0.73 | 72 | Dividend, Large Cap Value Equities | CAIFX vs LEIFX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.34 | 0.47 | 0.65 | 98 | CAIFX vs CMNIX | ||
| Virtus Newfleet Multi-Sector S/T Bd I | 0.34 | 0.30 | 0.29 | 87 | Short-Term Bond | CAIFX vs PIMSX | |
| Federated Hermes Strategic Value Dividend Fund Cla... | 0.46 | 0.60 | 0.72 | 93 | Dividend | CAIFX vs SVAAX | |
| Allspring Emerging Markets Equity Income Fund | 0.52 | 0.52 | 0.59 | 63 | Dividend, Emerging Markets Equities | CAIFX vs EQIIX |
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