Looking to diversify beyond CNPIX? The mutual funds below have historically moved differently from CNPIX, 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 CNPIX
10 mutual funds have low correlation with CNPIX (below 0.3), 6 of which are negatively correlated. The least correlated is ProFunds UltraJapan Fund (UJPIX) (Leveraged Equities) with a 1Y correlation of -0.19, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraJapan Fund | -0.19 | 0.01 | 0.26 | 88 | Leveraged Equities | CNPIX vs UJPIX | |
| Rydex Japan 2x Strategy Fund | -0.10 | 0.09 | 0.30 | 62 | Leveraged Equities | CNPIX vs RYJSX | |
| Rydex Russell 2000 1.5x Strategy Fund | -0.02 | 0.21 | 0.45 | 66 | Leveraged Equities | CNPIX vs RYMKX | |
| Direxion Monthly Small Cap Bull 1.75X Fund | -0.02 | 0.21 | 0.47 | 71 | Leveraged Equities | CNPIX vs DXRLX | |
| Rydex Russell 2000 2x Strategy Fund | -0.02 | 0.21 | 0.46 | 65 | Leveraged Equities | CNPIX vs RYRUX |
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