Looking to diversify beyond CGNAX? The mutual funds below have the lowest correlation with CGNAX — 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 CGNAX.
Best Diversifiers for CGNAX
1 mutual funds have low correlation with CGNAX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.08, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.08 | 0.18 | 0.51 | 67 | Diversified Portfolio | CGNAX vs MHELX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.36 | 0.54 | 0.62 | 82 | Diversified Portfolio | CGNAX vs FCSRX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.36 | 0.54 | 0.62 | 88 | Diversified Portfolio | CGNAX vs FSRKX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.36 | 0.54 | 0.62 | 88 | Diversified Portfolio | CGNAX vs FIQDX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.37 | 0.54 | 0.62 | 86 | Diversified Portfolio | CGNAX vs FSIRX |
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