Looking to diversify beyond CBALX? The mutual funds below have historically moved differently from CBALX, 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 CBALX
22 mutual funds have low correlation with CBALX (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 -0.28, down from 0.05 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... | -0.28 | -0.10 | 0.05 | 83 | Diversified Portfolio | CBALX vs SIFAX | |
| Columbia Commodity Strategy Fund | -0.08 | 0.04 | 0.12 | 85 | Commodities | CBALX vs CCSZX | |
| MH Elite Small Cap Fund of Funds Fund | 0.01 | 0.12 | 0.46 | 66 | Diversified Portfolio | CBALX vs MHELX | |
| Columbia Ultra Short Term Bond Fund | 0.11 | 0.13 | 0.11 | 99 | Ultrashort Bond | CBALX vs CMGUX | |
| Columbia New York Intermediate Municipal Bond Fund | 0.22 | 0.24 | 0.20 | 69 | Municipal Bonds | CBALX vs GNYTX |
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