Looking to diversify beyond CPMPX? The mutual funds below have historically moved differently from CPMPX, 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 CPMPX
12 mutual funds have low correlation with CPMPX (below 0.3), 2 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.04, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.04 | 0.14 | 0.16 | 73 | High Yield Bonds | CPMPX vs FOCIX | |
| Pioneer ILS Interval Fund | -0.02 | -0.04 | -0.02 | 100 | High Yield Bonds | CPMPX vs XILSX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.08 | 0.02 | 0.05 | 100 | Bank Loan, High Yield Bonds | CPMPX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.17 | 0.13 | 0.14 | 100 | High Yield Bonds | CPMPX vs RPHIX | |
| Fidelity Advisor Floating Rate High Income Fund Cl... | 0.24 | 0.24 | 0.27 | 94 | High Yield Bonds | CPMPX vs FFRTX |
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