Looking to diversify beyond CPPAX? The mutual funds below have historically moved differently from CPPAX, 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 CPPAX
8 mutual funds have low correlation with CPPAX (below 0.3), 1 of which are negatively correlated. The least correlated is Leader Short Term High Yield Bond Fund (LCCMX) (Short-Term Bond) with a 1Y correlation of -0.02, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Leader Short Term High Yield Bond Fund | -0.02 | 0.01 | 0.12 | 77 | Short-Term Bond | CPPAX vs LCCMX | |
| GuidePath Absolute Return Allocation Fund | 0.14 | 0.53 | 0.62 | 65 | Short-Term Bond | CPPAX vs GPARX | |
| DFA Two-Year Fixed Income Portfolio | 0.25 | 0.09 | 0.37 | 100 | Short-Term Bond | CPPAX vs DFCFX | |
| American Funds Fundamental Investors Class A | 0.25 | 0.13 | 0.13 | 61 | Large Cap Blend Equities, Actively Managed | CPPAX vs ANCFX | |
| GuidepathConservative Income Fund | 0.26 | 0.31 | 0.42 | 99 | Short-Term Bond | CPPAX vs GPICX |
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