Looking to diversify beyond CPODX? The mutual funds below have historically moved differently from CPODX, 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 CPODX
3 mutual funds have low correlation with CPODX (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 0.11, up from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed... | 0.11 | 0.01 | -0.05 | 99 | Ultrashort Bond | CPODX vs TSDUX | |
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.11 | 0.03 | 0.04 | 100 | Ultrashort Bond | CPODX vs MUIIX | |
| Morgan Stanley Pathway Funds Municipal Bond Fund | 0.29 | 0.15 | 0.15 | 66 | Municipal Bonds | CPODX vs TMUUX | |
| Morgan Stanley China A Share Fund | 0.30 | 0.24 | 0.29 | 78 | China Equities, Asia Pacific Equities | CPODX vs CAF | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.33 | 0.30 | 0.34 | 57 | Emerging Markets Bonds | CPODX vs EDD |
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