Looking to diversify beyond CZMVX? The mutual funds below have the lowest correlation with CZMVX — 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 CZMVX.
Best Diversifiers for CZMVX
2 mutual funds have low correlation with CZMVX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Institutional High Yield Bond Fund (FIHBX) (High Yield Bonds) with a 1Y correlation of 0.16, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Institutional High Yield Bond Fun... | 0.16 | 0.32 | 0.40 | 65 | High Yield Bonds | CZMVX vs FIHBX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.24 | 0.13 | 0.09 | 95 | Long-Short | CZMVX vs BDMIX | |
| Nuveen Preferred Securities & Income Fund | 0.36 | 0.36 | 0.37 | 73 | Preferred Stock/Convertible Bonds | CZMVX vs NPSRX | |
| BlackRock Technology Opportunities Fund Investor A | 0.38 | 0.44 | 0.57 | 66 | Technology Equities | CZMVX vs BGSAX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.39 | 0.26 | 0.14 | 60 | Systematic Trend | CZMVX vs ASFYX |
See all 48 diversifiers for CZMVX
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