Looking to diversify beyond CCIF? The mutual funds below have historically moved differently from CCIF, 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 CCIF
3 mutual funds have low correlation with CCIF (below 0.3), 0 of which are negatively correlated. The least correlated is Hartford Schroders Tax-Aware Bond Fund (STWTX) (Intermediate Core Bond) with a 1Y correlation of 0.01, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Schroders Tax-Aware Bond Fund | 0.01 | 0.01 | 0.06 | 56 | Intermediate Core Bond | CCIF vs STWTX | |
| Vanguard California Intermediate-Term Tax-Exempt F... | 0.05 | 0.03 | 0.07 | 58 | Municipal Bonds, Intermediate Core Bond, Investment Grade Bonds, Actively Managed | CCIF vs VCAIX | |
| Nuveen Multi-Asset Income Fund | 0.17 | 0.22 | — | 77 | Global Allocation | CCIF vs NMAI |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CCIF, 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 Equinix, Inc. (EQIX) (Real Estate) with a 1Y correlation of 0.02, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinix, Inc. | 0.02 | 0.08 | 0.11 | 85 | Real Estate | |
| BlackRock Science and Technology Term Trust | 0.11 | 0.18 | 0.17 | 88 | Financial Services | |
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.12 | 0.17 | 0.18 | 82 | Financial Services | |
| Ellington Financial Inc. | 0.15 | 0.17 | 0.18 | 71 | Real Estate | |
| Capital Southwest Corporation | 0.18 | 0.18 | 0.17 | 72 | Financial Services |
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