Looking to diversify beyond CFIPX? The mutual funds below have the lowest correlation with CFIPX — 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 CFIPX.
Best Diversifiers for CFIPX
1 mutual funds have low correlation with CFIPX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Virginia Tax Free Bond Fund (PRVAX) (Municipal Bonds) with a 1Y correlation of 0.19, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Virginia Tax Free Bond Fund | 0.19 | 0.13 | 0.10 | 86 | Municipal Bonds | CFIPX vs PRVAX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.30 | 0.41 | 0.56 | 52 | Global Equities | CFIPX vs CSUAX | |
| Permanent Portfolio Versatile Bond Portfolio | 0.46 | 0.34 | 0.31 | 79 | Short-Term Bond | CFIPX vs PRVBX | |
| Russell Investment Tax-Managed Real Assets Fund | 0.53 | 0.63 | 0.73 | 80 | Global Equities | CFIPX vs RTXAX | |
| Franklin Income Fund Advisor Class | 0.53 | 0.54 | 0.67 | 87 | Diversified Portfolio | CFIPX vs FRIAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CFIPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CFIPX and solid risk/return profiles. The least correlated is Cirrus Logic, Inc. (CRUS) (Technology) with a 1Y correlation of 0.36, down from 0.57 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cirrus Logic, Inc. | 0.36 | 0.51 | 0.57 | 79 | Technology | |
| CrowdStrike Holdings, Inc. | 0.37 | 0.52 | 0.53 | 65 | Technology | |
| Apple Inc | 0.42 | 0.45 | 0.56 | 87 | Technology | |
| Broadcom Inc. | 0.49 | 0.59 | 0.65 | 72 | Technology | |
| Roku, Inc. | 0.51 | 0.49 | 0.52 | 79 | Communication Services |
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