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 0.16, 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 | 0.16 | 0.12 | 0.10 | 81 | Municipal Bonds | CFIPX vs PRVAX | |
| Permanent Portfolio Versatile Bond Portfolio | 0.42 | 0.33 | 0.30 | 85 | Short-Term Bond | CFIPX vs PRVBX | |
| Franklin Income Fund Advisor Class | 0.53 | 0.54 | 0.67 | 92 | Diversified Portfolio | CFIPX vs FRIAX | |
| Russell Investment Tax-Managed Real Assets Fund | 0.54 | 0.63 | 0.73 | 80 | Global Equities | CFIPX vs RTXAX | |
| Polaris Global Value Fund | 0.54 | 0.66 | 0.76 | 89 | Global Equities | CFIPX vs PGVFX |
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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 Oracle Corporation (ORCL) (Technology) with a 1Y correlation of 0.32, down from 0.56 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Oracle Corporation | 0.32 | 0.51 | 0.56 | 62 | Technology | |
| Rivian Automotive, Inc. | 0.34 | 0.39 | — | 52 | Consumer Cyclical | |
| CrowdStrike Holdings, Inc. | 0.35 | 0.51 | 0.52 | 73 | Technology | |
| Cirrus Logic, Inc. | 0.35 | 0.51 | 0.57 | 87 | Technology | |
| Tesla, Inc. | 0.48 | 0.50 | 0.53 | 55 | Consumer Cyclical |
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