Looking to diversify beyond CMGUX? The mutual funds below have historically moved differently from CMGUX, 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 CMGUX
22 mutual funds have low correlation with CMGUX (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) (Ultrashort Bond) with a 1Y correlation of 0.01, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed... | 0.01 | 0.13 | 0.07 | 99 | Ultrashort Bond | CMGUX vs TSDUX | |
| Columbia Dividend Income Fund Institutional 3 Clas... | 0.01 | 0.05 | 0.05 | 90 | Large Cap Value Equities, Dividend | CMGUX vs CDDYX | |
| Columbia Dividend Income Fund Class A | 0.01 | 0.05 | 0.05 | 89 | Large Cap Value Equities | CMGUX vs LBSAX | |
| Tactical Multi-Purpose Fund | 0.02 | -0.02 | -0.02 | 100 | Ultrashort Bond | CMGUX vs TMPFX | |
| Columbia Seligman Technology and Information Fund ... | 0.02 | 0.04 | 0.05 | 93 | Technology Equities | CMGUX vs SLMCX |
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