Looking to diversify beyond CFWAX? The mutual funds below have the lowest correlation with CFWAX — 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 CFWAX.
Best Diversifiers for CFWAX
8 mutual funds have low correlation with CFWAX (below 0.3), 0 of which are negatively correlated. The least correlated is Recurrent MLP & Infrastructure Fund (RMLPX) (Energy Equities) with a 1Y correlation of 0.01, down from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Recurrent MLP & Infrastructure Fund | 0.01 | 0.32 | 0.41 | 57 | Energy Equities | CFWAX vs RMLPX | |
| Calvert Ultra-Short Duration Income Fund | 0.10 | 0.14 | 0.19 | 99 | Ultrashort Bond | CFWAX vs CULAX | |
| Vanguard Energy Opportunities Fund Investor Shares | 0.20 | 0.42 | 0.50 | 61 | Energy Equities | CFWAX vs VGENX | |
| Vanguard Energy Fund Admiral Shares | 0.20 | 0.42 | 0.50 | 61 | Energy Equities | CFWAX vs VGELX | |
| Cohen & Steers MLP & Energy Opportunity Fund, Inc. | 0.24 | 0.45 | 0.51 | 95 | Energy Equities | CFWAX vs MLOZX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CFWAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CFWAX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.35, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.35 | 0.37 | 0.51 | 88 | Technology |
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