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Carillon Scout Mid Cap Fund (UMBMX) Diversifiers

Mutual Fund · Currency in USD · Last updated Aug 4, 2026
Documentation

Under normal circumstances, at least 80% of the fund's net assets will be invested in mid cap equity securities. The fund's portfolio managers consider mid-capitalization companies to be those companies that, at the time of initial purchase, have market capitalizations greater than $1 billion and equal to or less than the largest company in the Russell Midcap Index during the most recent 12-month period. It maintains a portfolio of investments diversified across companies and economic sectors.

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

2 mutual funds have low correlation with UMBMX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity SAI Inflation-Focused (FIFGX) (Commodities) with a 1Y correlation of -0.11, down from 0.20 over 5 years.

How candidates are selected
SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FIFGX
Fidelity SAI Inflation-Focused-0.110.060.20
78
CommoditiesUMBMX vs FIFGX
PCLIX
PIMCO CommoditiesPLUS Strategy Fund-0.100.060.19
70
CommoditiesUMBMX vs PCLIX
BERIX
Chartwell Income Fund0.430.490.55
80
Diversified PortfolioUMBMX vs BERIX
CWFIX
Chartwell Short Duration High Yield Fund0.470.500.48
97
High Yield BondsUMBMX vs CWFIX
LZEMX
Lazard Emerging Markets Equity Portfolio0.570.570.60
95
Emerging Markets EquitiesUMBMX vs LZEMX
See all 50 diversifiers for UMBMX

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Low-Correlation Stock Ideas

The table shows companies with at least $1B in market capitalization, historical correlation data for UMBMX, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.33, down from 0.54 over 5 years.

How candidates are selected
SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
NVDA
NVIDIA Corporation0.330.400.54
61
Technology

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