Looking to diversify beyond COFYX? The mutual funds below have the lowest correlation with COFYX — 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 COFYX.
Best Diversifiers for COFYX
3 mutual funds have low correlation with COFYX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund (SVAIX) (Large Cap Value Equities) with a 1Y correlation of 0.10, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | 0.10 | 0.27 | 0.45 | 80 | Large Cap Value Equities | COFYX vs SVAIX | |
| Federated Hermes Equity Income Fund | 0.11 | 0.43 | 0.66 | 67 | Large Cap Value Equities | COFYX vs LEIFX | |
| Hennessy Cornerstone Value Fund | 0.26 | 0.43 | 0.58 | 81 | Large Cap Value Equities | COFYX vs HFCVX | |
| American Century Equity Income Fund Class I | 0.43 | 0.50 | 0.66 | 52 | Large Cap Value Equities | COFYX vs ACIIX | |
| American Century Equity Income Fund | 0.43 | 0.50 | 0.66 | 51 | Large Cap Value Equities | COFYX vs TWEIX |
See all 43 diversifiers for COFYX
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