Looking to diversify beyond CPBYX? The mutual funds below have historically moved differently from CPBYX, 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 CPBYX
4 mutual funds have low correlation with CPBYX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Value Opportunities Fund (VVOAX) (Mid Cap Value Equities) with a 1Y correlation of 0.25, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Value Opportunities Fund | 0.25 | 0.21 | 0.16 | 74 | Mid Cap Value Equities | CPBYX vs VVOAX | |
| Invesco Small Cap Value Fund | 0.26 | 0.21 | 0.16 | 76 | Small Cap Value Equities | CPBYX vs VSCAX | |
| Invesco Developing Markets Fund Class R6 | 0.27 | 0.18 | 0.19 | 74 | Emerging Markets Equities | CPBYX vs ODVIX | |
| Invesco Comstock Fund | 0.29 | 0.21 | 0.16 | 83 | Large Cap Value Equities | CPBYX vs ACSTX | |
| American Funds New World Fund | 0.30 | 0.23 | 0.24 | 53 | Emerging Markets Equities | CPBYX vs NEWFX |
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