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Carillon Scout Mid Cap Fund (UMBMX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 24, 2026

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 the lowest correlation with UMBMX — 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 UMBMX.

Best Diversifiers for UMBMX

0 mutual funds have low correlation with UMBMX (below 0.3), 0 of which are negatively correlated. The least correlated is Chartwell Income Fund (BERIX) (Diversified Portfolio) with a 1Y correlation of 0.45, down from 0.56 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
BERIX
Chartwell Income Fund0.450.510.56
57
Diversified PortfolioUMBMX vs BERIX
CWFIX
Chartwell Short Duration High Yield Fund0.510.510.49
96
High Yield BondsUMBMX vs CWFIX
LZEMX
Lazard Emerging Markets Equity Portfolio0.550.560.60
95
Emerging Markets DiversifiedUMBMX vs LZEMX
BEXIX
Baron Emerging Markets Fund0.560.580.62
52
Emerging Markets DiversifiedUMBMX vs BEXIX
JMIEX
JPMorgan Emerging Markets Equity Fund0.600.630.65
92
Emerging Markets DiversifiedUMBMX vs JMIEX
See all 40 diversifiers for UMBMX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from UMBMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to UMBMX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.28, down from 0.53 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
NVDA
NVIDIA Corporation0.280.410.53
72
Technology

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