Looking to diversify beyond CFWAX? The mutual funds below have historically moved differently from CFWAX, 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 CFWAX
19 mutual funds have low correlation with CFWAX (below 0.3), 6 of which are negatively correlated. The least correlated is Guinness Atkinson Global Energy Fund (GAGEX) (Energy Equities) with a 1Y correlation of -0.07, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Guinness Atkinson Global Energy Fund | -0.07 | 0.22 | 0.31 | 84 | Energy Equities | CFWAX vs GAGEX | |
| Vanguard Energy Index Fund Admiral Shares | -0.07 | 0.21 | 0.30 | 72 | Energy Equities | CFWAX vs VENAX | |
| Invesco Energy Fund | -0.06 | 0.21 | 0.31 | 73 | Energy Equities | CFWAX vs FSTEX | |
| Fidelity Select Energy Portfolio | -0.06 | 0.22 | 0.32 | 87 | Energy Equities | CFWAX vs FSENX | |
| Recurrent MLP & Infrastructure Fund | -0.05 | 0.28 | 0.39 | 92 | Infrastructure Equities, Energy Equities | CFWAX vs RMLPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CFWAX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.34, down from 0.50 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.34 | 0.37 | 0.50 | 89 | Technology |
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