Looking to diversify beyond UMBHX? The mutual funds below have historically moved differently from UMBHX, 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 UMBHX
0 mutual funds have low correlation with UMBHX (below 0.3), 0 of which are negatively correlated. The least correlated is Carillon Eagle Growth & Income Fund (HRCVX) (Large Cap Value Equities) with a 1Y correlation of 0.44, roughly unchanged from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Carillon Eagle Growth & Income Fund | 0.44 | 0.44 | 0.44 | 67 | Large Cap Value Equities | UMBHX vs HRCVX | |
| Driehaus Micro Cap Growth Fund | 0.82 | 0.82 | 0.82 | 82 | Small Cap Growth Equities | UMBHX vs DMCRX | |
| Carillon Scout Mid Cap Fund | 0.87 | 0.87 | 0.87 | 58 | Mid Cap Blend Equities | UMBHX vs UMBMX | |
| Hood River Small-Cap Growth Fund | 0.88 | 0.88 | 0.88 | 74 | Small Cap Growth Equities | UMBHX vs HRSMX | |
| Needham Small Cap Growth Fund Institutional | 0.89 | 0.89 | 0.89 | 81 | Small Cap Growth Equities | UMBHX vs NESIX |
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