Looking to diversify beyond CBRDX? The mutual funds below have historically moved differently from CBRDX, 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 CBRDX
26 mutual funds have low correlation with CBRDX (below 0.3), 0 of which are negatively correlated. The least correlated is Angel Oak Multi-Strategy Income Fund (ANGLX) (Multisector Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Angel Oak Multi-Strategy Income Fund | 0.04 | 0.11 | 0.13 | 93 | Multisector Bonds | CBRDX vs ANGLX | |
| Axonic Strategic Income Fund | 0.05 | 0.08 | 0.12 | 85 | Multisector Bonds | CBRDX vs AXSIX | |
| Easterly Income Opportunities Fund | 0.05 | 0.07 | 0.09 | 76 | Multisector Bonds | CBRDX vs JSVIX | |
| JPMorgan Income Fund Class I | 0.05 | 0.11 | 0.21 | 73 | Multisector Bonds, Investment Grade Bonds, High Yield Bonds, Actively Managed | CBRDX vs JMSIX | |
| Doubleline Selective Credit Fund | 0.06 | 0.16 | 0.14 | 89 | Multisector Bonds | CBRDX vs DBSCX |
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