Looking to diversify beyond CFIPX? The mutual funds below have historically moved differently from CFIPX, 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 CFIPX
4 mutual funds have low correlation with CFIPX (below 0.3), 0 of which are negatively correlated. The least correlated is GQG Partners Global Quality Dividend Income Fund (GQFPX) (Quality Factor) with a 1Y correlation of 0.12, down from 0.62 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners Global Quality Dividend Income Fund | 0.12 | 0.48 | 0.62 | 70 | Quality Factor, Global Equities | CFIPX vs GQFPX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.22 | 0.38 | 0.54 | 79 | Infrastructure Equities, Global Equities | CFIPX vs CSUAX | |
| T. Rowe Virginia Tax Free Bond Fund | 0.23 | 0.14 | 0.12 | 91 | Municipal Bonds | CFIPX vs PRVAX | |
| Nuveen Global Infrastructure Fund Class A | 0.30 | 0.47 | 0.62 | 66 | Infrastructure Equities, Global Equities | CFIPX vs FGIAX | |
| Catalyst/Millburn Hedge Strategy Fund Class I | 0.37 | 0.39 | 0.42 | 90 | Multistrategy, Systematic Trend, Global Equities | CFIPX vs MBXIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CFIPX, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.20, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.20 | 0.07 | 0.26 | 70 | Energy | |
| McKesson Corporation | 0.00 | 0.09 | 0.21 | 67 | Healthcare | |
| Berkshire Hathaway Inc. | 0.07 | 0.32 | 0.51 | 61 | Financial Services | |
| Visa Inc. | 0.24 | 0.41 | 0.53 | 53 | Financial Services | |
| Brookfield Infrastructure Corporation | 0.29 | — | — | 56 | Utilities |
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