Looking to diversify beyond CHY? The mutual funds below have historically moved differently from CHY, 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 CHY
3 mutual funds have low correlation with CHY (below 0.3), 0 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Calamos Aksia Alternative Credit and Income Fund C... | 0.05 | — | — | 99 | Bank Loan | CHY vs CAPIX | |
| Calamos Short-Term Bond Fund | 0.22 | 0.19 | 0.21 | 79 | Short-Term Bond | CHY vs CSTIX | |
| Lazard Enhanced Opportunities Portfolio Open Share... | 0.23 | 0.06 | 0.15 | 75 | Convertible Bonds | CHY vs LEOOX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.39 | 0.39 | 0.50 | 98 | CHY vs CMNIX | ||
| Calamos High Income Opportunities Fund | 0.56 | 0.49 | 0.51 | 90 | High Yield Bonds | CHY vs CHYDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CHY, 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 Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.08, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.08 | 0.12 | 0.24 | 89 | Energy | |
| Antero Midstream Corporation | -0.03 | 0.21 | 0.31 | 78 | Energy | |
| Energy Transfer LP | -0.00 | 0.20 | 0.28 | 81 | Energy | |
| Western Midstream Partners, LP | 0.02 | 0.19 | 0.25 | 80 | Energy | |
| AGNC Investment Corp. | 0.16 | 0.15 | 0.23 | 92 | Real Estate |
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