Looking to diversify beyond CENAX? The mutual funds below have historically moved differently from CENAX, 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 CENAX
2 mutual funds have low correlation with CENAX (below 0.3), 0 of which are negatively correlated. The least correlated is Leader Short Term High Yield Bond Fund (LCCMX) (Short-Term Bond) with a 1Y correlation of 0.06, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Leader Short Term High Yield Bond Fund | 0.06 | 0.09 | 0.20 | 78 | Short-Term Bond | CENAX vs LCCMX | |
| DFA Two-Year Fixed Income Portfolio | 0.16 | 0.08 | 0.38 | 100 | Short-Term Bond | CENAX vs DFCFX | |
| GuidePath Absolute Return Allocation Fund | 0.30 | 0.64 | 0.71 | 55 | Short-Term Bond | CENAX vs GPARX | |
| Holbrook Income Fund | 0.34 | 0.35 | 0.40 | 96 | Short-Term Bond | CENAX vs HOBEX | |
| GuidepathConservative Income Fund | 0.37 | 0.40 | 0.48 | 99 | Short-Term Bond | CENAX vs GPICX |
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