Looking to diversify beyond CDDYX? The mutual funds below have historically moved differently from CDDYX, 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 CDDYX
21 mutual funds have low correlation with CDDYX (below 0.3), 0 of which are negatively correlated. The least correlated is Columbia Ultra Short Term Bond Fund (CMGUX) (Ultrashort Bond) with a 1Y correlation of 0.01, roughly unchanged from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Columbia Ultra Short Term Bond Fund | 0.01 | 0.05 | 0.05 | 99 | Ultrashort Bond | CDDYX vs CMGUX | |
| Columbia Commodity Strategy Fund | 0.02 | 0.08 | 0.18 | 88 | Commodities | CDDYX vs CCSZX | |
| AQR Managed Futures Strategy Fund Class N | 0.08 | 0.01 | -0.11 | 89 | Systematic Trend | CDDYX vs AQMNX | |
| Columbia New York Intermediate Municipal Bond Fund | 0.11 | 0.13 | 0.08 | 62 | Municipal Bonds | CDDYX vs GNYTX | |
| Columbia Short Term Municipal Bond Fund | 0.13 | 0.14 | 0.09 | 65 | Municipal Bonds | CDDYX vs NSMIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CDDYX, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.38, down from 0.67 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.38 | 0.57 | 0.67 | 61 | Financial Services |
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