Looking to diversify beyond CMCIX? The mutual funds below have historically moved differently from CMCIX, 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 CMCIX
3 mutual funds have low correlation with CMCIX (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 |
|---|---|---|---|---|---|---|---|
| Calvert Ultra-Short Duration Income Fund | 0.11 | — | — | 99 | Ultrashort Bond | CMCIX vs CULAX | |
| Federated Hermes MDT Small Cap Growth Fund | 0.18 | — | — | 71 | Small Cap Growth Equities | CMCIX vs QISGX | |
| Federated Hermes MDT Small Cap Growth Fund Class A | 0.18 | — | — | 68 | Small Cap Growth Equities | CMCIX vs QASGX | |
| Calvert Emerging Markets Equity Fund | 0.42 | — | — | 66 | Emerging Markets Equities | CMCIX vs CVMIX | |
| Driehaus Micro Cap Growth Fund | 0.48 | — | — | 82 | Small Cap Growth Equities | CMCIX vs DMCRX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CMCIX, 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 CNX Resources Corporation (CNX) (Energy) with a 1Y correlation of 0.02, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CNX Resources Corporation | 0.02 | 0.23 | 0.23 | 62 | Energy | |
| Applied Optoelectronics, Inc. | 0.13 | 0.30 | 0.30 | 93 | Technology | |
| Applied Digital Corporation | 0.20 | 0.27 | 0.27 | 78 | Technology | |
| First Majestic Silver Corp. | 0.26 | 0.23 | 0.23 | 76 | Basic Materials | |
| Aura Minerals Inc. Common Shares | 0.28 | 0.28 | 0.28 | 85 | Basic Materials |
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