Looking to diversify beyond CPIEX? The mutual funds below have the lowest correlation with CPIEX — 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 CPIEX.
Best Diversifiers for CPIEX
7 mutual funds have low correlation with CPIEX (below 0.3), 1 of which are negatively correlated. The least correlated is Knights of Columbus Long/Short Equity Fund (KCEIX) (Long-Short) with a 1Y correlation of -0.06, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Knights of Columbus Long/Short Equity Fund | -0.06 | 0.19 | 0.38 | 84 | Long-Short | CPIEX vs KCEIX | |
| Stone Ridge High Yield Reinsurance Risk Premium Fu... | 0.01 | -0.03 | -0.05 | 98 | Multistrategy | CPIEX vs SHRIX | |
| Stone Ridge Reinsurance Risk Premium Interval Fund | 0.06 | 0.01 | -0.01 | 100 | Multistrategy | CPIEX vs SRRIX | |
| Vanguard Market Neutral Fund Institutional Shares | 0.17 | 0.25 | 0.39 | 95 | Long-Short | CPIEX vs VMNIX | |
| Counterpoint Tactical Municipal Fund | 0.17 | 0.01 | -0.04 | 80 | High Yield Muni | CPIEX vs TMNIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CPIEX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CPIEX and solid risk/return profiles. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of -0.05, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | -0.05 | 0.16 | 0.16 | 52 | Financial Services | |
| General American Investors Company, Inc. | 0.57 | 0.50 | 0.27 | 93 | Financial Services |
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