Looking to diversify beyond CMJAX? The mutual funds below have historically moved differently from CMJAX, 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 CMJAX
1 mutual funds have low correlation with CMJAX (below 0.3), 0 of which are negatively correlated. The least correlated is Calvert Ultra-Short Duration Income Fund (CULAX) (Ultrashort Bond) with a 1Y correlation of 0.12, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Calvert Ultra-Short Duration Income Fund | 0.12 | 0.11 | 0.16 | 99 | Ultrashort Bond | CMJAX vs CULAX | |
| Calvert Emerging Markets Equity Fund | 0.57 | 0.56 | 0.60 | 68 | Emerging Markets Equities | CMJAX vs CVMIX | |
| Fidelity U.S. Sustainability Index Fund | 0.71 | 0.77 | 0.85 | 50 | Large Cap Blend Equities, ESG | CMJAX vs FITLX | |
| 13D Activist Fund | 0.72 | 0.82 | 0.86 | 82 | Mid Cap Blend Equities | CMJAX vs DDDIX | |
| Tarkio Fund | 0.72 | 0.80 | 0.86 | 53 | Mid Cap Blend Equities | CMJAX vs TARKX |
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