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Looking to diversify beyond CVGRX? The mutual funds below have historically moved differently from CVGRX, 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 CVGRX

3 mutual funds have low correlation with CVGRX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Municipal Ultra Short Fund (FMUSX) (Municipal Bonds) with a 1Y correlation of 0.08, roughly unchanged from 0.06 over 5 years.

How candidates are selected

See all 44 diversifiers for CVGRX

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Low-Correlation Stock Ideas

The table shows companies with at least $1B in market capitalization, historical correlation data for CVGRX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Johnson Controls International plc (JCI) (Industrials) with a 1Y correlation of 0.40, down from 0.57 over 5 years.

How candidates are selected

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
Johnson Controls International plc0.400.510.57
86
Industrials
Royce Value Trust Inc.0.610.600.69
87
Financial Services

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