Looking to diversify beyond CHI? The mutual funds below have the lowest correlation with CHI — 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 CHI.
Best Diversifiers for CHI
2 mutual funds have low correlation with CHI (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Calamos Aksia Alternative Credit and Income Fund C... | 0.06 | — | — | 98 | Bank Loan | CHI vs CAPIX | |
| Calamos Short-Term Bond Fund | 0.24 | 0.17 | 0.18 | 63 | Short-Term Bond | CHI vs CSTIX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.36 | 0.33 | 0.46 | 98 | CHI vs CMNIX | ||
| Calamos High Income Opportunities Fund | 0.52 | 0.46 | 0.47 | 90 | High Yield Bonds | CHI vs CHYDX | |
| Miller Convertible Bond Fund | 0.59 | 0.50 | 0.55 | 78 | Convertible Bonds | CHI vs MCIFX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHI and solid risk/return profiles. The least correlated is Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) (Financial Services) with a 1Y correlation of 0.58, roughly unchanged from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eaton Vance Tax-Managed Global Buy-Write Opportuni... | 0.58 | 0.52 | 0.51 | 85 | Financial Services |
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