Looking to diversify beyond CCSTX? The mutual funds below have historically moved differently from CCSTX, 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 CCSTX
12 mutual funds have low correlation with CCSTX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of -0.02, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.02 | 0.11 | 0.11 | 99 | Municipal Bonds | CCSTX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.00 | 0.07 | 0.06 | 99 | Municipal Bonds | CCSTX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | 0.15 | 0.13 | 0.18 | 100 | Municipal Bonds | CCSTX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 0.21 | 0.29 | 0.37 | 100 | Municipal Bonds | CCSTX vs DFSMX | |
| BlackRock MuniYield Michigan Quality Fund | 0.23 | 0.38 | 0.34 | 58 | Municipal Bonds | CCSTX vs MIY |
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