Looking to diversify beyond CCASX? The mutual funds below have historically moved differently from CCASX, 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 CCASX
2 mutual funds have low correlation with CCASX (below 0.3), 1 of which are negatively correlated. The least correlated is PIMCO CommoditiesPLUS Strategy Fund (PCLAX) (Commodities) with a 1Y correlation of -0.16, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO CommoditiesPLUS Strategy Fund | -0.16 | -0.01 | 0.07 | 68 | Commodities | CCASX vs PCLAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.19 | 0.21 | 0.12 | 98 | Nontraditional Bonds | CCASX vs EGRIX | |
| Causeway International Small Cap Fund | 0.42 | 0.49 | 0.53 | 72 | Foreign Small & Mid Cap Equities | CCASX vs CVISX | |
| PIMCO StocksPLUS International Fund (Unhedged) | 0.43 | 0.37 | 0.39 | 55 | Foreign Large Cap Equities | CCASX vs PSKIX | |
| DFA Emerging Markets Portfolio | 0.43 | 0.48 | 0.52 | 67 | Emerging Markets Equities | CCASX vs DFEMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CCASX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.15, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.15 | 0.07 | 0.16 | 73 | Energy |
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