Looking to diversify beyond CMNIX? The mutual funds below have the lowest correlation with CMNIX — 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 CMNIX.
Best Diversifiers for CMNIX
13 mutual funds have low correlation with CMNIX (below 0.3), 1 of which are negatively correlated. The least correlated is AQR Style Premia Alternative Fund (QSPIX) (Multistrategy) with a 1Y correlation of -0.01, up from -0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Style Premia Alternative Fund | -0.01 | -0.05 | -0.15 | 52 | Multistrategy | CMNIX vs QSPIX | |
| Federated Hermes Municipal Ultra Short Fund | 0.05 | 0.04 | 0.05 | 94 | Municipal Bonds | CMNIX vs FMUSX | |
| AQR Managed Futures Strategy Fund Class N | 0.06 | 0.01 | -0.11 | 92 | Systematic Trend | CMNIX vs AQMNX | |
| Calamos Short-Term Bond Fund | 0.12 | 0.12 | 0.17 | 62 | Short-Term Bond | CMNIX vs CSTIX | |
| Lord Abbett Ultra Short Bond Fund | 0.14 | 0.10 | 0.08 | 98 | Ultrashort Bond | CMNIX vs LUBYX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CMNIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CMNIX and solid risk/return profiles. The least correlated is Meta Financial Group, Inc. (CASH) (Financial Services) with a 1Y correlation of 0.19, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Meta Financial Group, Inc. | 0.19 | 0.30 | 0.45 | 53 | Financial Services |
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