Looking to diversify beyond CPOAX? The mutual funds below have the lowest correlation with CPOAX — 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 CPOAX.
Best Diversifiers for CPOAX
4 mutual funds have low correlation with CPOAX (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) (Ultrashort Bond) with a 1Y correlation of 0.06, up from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed... | 0.06 | -0.03 | -0.06 | 98 | Ultrashort Bond | CPOAX vs TSDUX | |
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.12 | 0.03 | 0.04 | 99 | Ultrashort Bond | CPOAX vs MUIIX | |
| Morgan Stanley Pathway Funds Municipal Bond Fund | 0.23 | 0.14 | 0.14 | 64 | Municipal Bonds | CPOAX vs TMUUX | |
| Morgan Stanley China A Share Fund | 0.23 | 0.23 | 0.28 | 85 | China Equities | CPOAX vs CAF | |
| Morgan Stanley Pathway Funds Emerging Markets Equi... | 0.45 | 0.49 | 0.54 | 92 | Emerging Markets Diversified | CPOAX vs TEMUX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CPOAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CPOAX and solid risk/return profiles. The least correlated is AST SpaceMobile, Inc. (ASTS) (Technology) with a 1Y correlation of 0.40, roughly unchanged from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AST SpaceMobile, Inc. | 0.40 | 0.42 | 0.44 | 60 | Technology | |
| Astera Labs, Inc. | 0.44 | 0.49 | 0.49 | 93 | Technology |
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