Looking to diversify beyond CMNIX? The mutual funds below have historically moved differently from CMNIX, 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 CMNIX
18 mutual funds have low correlation with CMNIX (below 0.3), 0 of which are negatively correlated. The least correlated is AQR Style Premia Alternative Fund - Class I (QSPIX) (Multistrategy) with a 1Y correlation of 0.03, up from -0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Style Premia Alternative Fund - Class I | 0.03 | -0.06 | -0.16 | 90 | Multistrategy | CMNIX vs QSPIX | |
| AQR Managed Futures Strategy Fund - Class I | 0.06 | 0.00 | -0.13 | 90 | Systematic Trend | CMNIX vs AQMIX | |
| Federated Hermes Municipal Ultra Short Fund | 0.07 | 0.04 | 0.05 | 93 | Municipal Bonds | CMNIX vs FMUSX | |
| AQR Managed Futures Strategy Fund Class N | 0.08 | 0.01 | -0.13 | 89 | Systematic Trend | CMNIX vs AQMNX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.11 | — | — | 99 | Bank Loan | CMNIX vs CAPIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CMNIX, 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 Pathward Financial, Inc. (CASH) (Financial Services) with a 1Y correlation of 0.20, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pathward Financial, Inc. | 0.20 | 0.29 | 0.44 | 61 | Financial Services |
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