Looking to diversify beyond CDAZX? The mutual funds below have the lowest correlation with CDAZX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from CDAZX.
Best Diversifiers for CDAZX
5 mutual funds have low correlation with CDAZX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Market Neutral Fund Institutional Shares (VMNIX) (Long-Short) with a 1Y correlation of 0.05, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Market Neutral Fund Institutional Shares | 0.05 | 0.07 | 0.24 | 64 | Long-Short | CDAZX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | 0.07 | 0.08 | 0.24 | 63 | Long-Short | CDAZX vs VMNFX | |
| Knights of Columbus Long/Short Equity Fund | 0.09 | 0.34 | 0.49 | 63 | Long-Short | CDAZX vs KCEIX | |
| Guggenheim Alpha Opportunity Fund | 0.26 | 0.30 | 0.41 | 53 | Long-Short | CDAZX vs SAOAX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.29 | 0.20 | 0.19 | 91 | Long-Short | CDAZX vs BDMIX |
See all 25 diversifiers for CDAZX
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