Looking to diversify beyond UMNIX? The mutual funds below have historically moved differently from UMNIX, 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 UMNIX
26 mutual funds have low correlation with UMNIX (below 0.3), 4 of which are negatively correlated. The least correlated is CrossingBridge Ultra-Short Duration Fund (CBUDX) (Ultrashort Bond) with a 1Y correlation of -0.04, roughly unchanged from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CrossingBridge Ultra-Short Duration Fund | -0.04 | 0.02 | 0.05 | 99 | Ultrashort Bond | UMNIX vs CBUDX | |
| Tactical Multi-Purpose Fund | -0.02 | 0.02 | 0.01 | 100 | Ultrashort Bond | UMNIX vs TMPFX | |
| Lazard Developing Markets Equity Portfolio | -0.01 | 0.01 | 0.02 | 80 | Emerging Markets Equities | UMNIX vs LDMIX | |
| Lazard Emerging Markets Equity Advantage Portfolio | -0.00 | 0.01 | 0.03 | 70 | Emerging Markets Equities | UMNIX vs LEAIX | |
| Lazard Emerging Markets Equity Portfolio | 0.01 | 0.02 | 0.02 | 95 | Emerging Markets Equities | UMNIX vs LZEMX |
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