Looking to diversify beyond CPLIX? The mutual funds below have historically moved differently from CPLIX, 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 CPLIX
19 mutual funds have low correlation with CPLIX (below 0.3), 3 of which are negatively correlated. The least correlated is Vanguard Market Neutral Fund Institutional Shares (VMNIX) (Long-Short) with a 1Y correlation of -0.17, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Market Neutral Fund Institutional Shares | -0.17 | -0.08 | -0.04 | 97 | Long-Short | CPLIX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | -0.17 | -0.08 | -0.04 | 97 | Long-Short | CPLIX vs VMNFX | |
| Calamos Aksia Alternative Credit and Income Fund C... | -0.03 | — | — | 99 | Bank Loan | CPLIX vs CAPIX | |
| Guggenheim Alpha Opportunity Fund | 0.01 | 0.11 | 0.16 | 83 | Long-Short | CPLIX vs SAOAX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.09 | 0.06 | -0.01 | 97 | Equity Market Neutral | CPLIX vs BDMIX |
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