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
16 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 -0.04, up from -0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Style Premia Alternative Fund | -0.04 | -0.06 | -0.16 | 52 | Multistrategy | CMNIX vs QSPIX | |
| AQR Managed Futures Strategy Fund Class N | 0.07 | 0.00 | -0.10 | 89 | Systematic Trend | CMNIX vs AQMNX | |
| Federated Hermes Municipal Ultra Short Fund | 0.08 | 0.05 | 0.05 | 61 | Municipal Bonds | CMNIX vs FMUSX | |
| Lord Abbett Ultra Short Bond Fund | 0.11 | 0.09 | 0.08 | 98 | Ultrashort Bond | CMNIX vs LUBYX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.11 | 0.12 | 0.12 | 99 | Nontraditional Bonds | CMNIX vs EIGMX |
See all 42 diversifiers for CMNIX
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