Looking to diversify beyond CAPAX? The mutual funds below have historically moved differently from CAPAX, 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 CAPAX
18 mutual funds have low correlation with CAPAX (below 0.3), 2 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.21, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.21 | -0.00 | 0.15 | 83 | Diversified Portfolio | CAPAX vs SIFAX | |
| Federated Hermes MDT Market Neutral A | -0.08 | 0.02 | — | 54 | Long-Short | CAPAX vs QAMNX | |
| Concorde Wealth Management Fund | 0.08 | 0.38 | 0.59 | 83 | Diversified Portfolio | CAPAX vs CONWX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.13 | 0.40 | 0.54 | 91 | Diversified Portfolio | CAPAX vs FIQDX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.14 | 0.42 | 0.55 | 91 | Diversified Portfolio | CAPAX vs FSRKX |
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