Looking to diversify beyond AMIGX? The mutual funds below have historically moved differently from AMIGX, 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 AMIGX
1 mutual funds have low correlation with AMIGX (below 0.3), 0 of which are negatively correlated. The least correlated is Calvert Short Duration Income Fund Class R6 (CDSRX) (Short-Term Bond) with a 1Y correlation of 0.27, roughly unchanged from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Calvert Short Duration Income Fund Class R6 | 0.27 | 0.14 | 0.19 | 80 | Short-Term Bond | AMIGX vs CDSRX | |
| Azzad Wise Capital Fund | 0.33 | 0.39 | 0.53 | 67 | Short-Term Bond | AMIGX vs WISEX | |
| AMG Yacktman Focused Fund | 0.45 | 0.55 | 0.66 | 89 | Large Cap Value Equities | AMIGX vs YAFFX | |
| Davis New York Venture Fund Class Y | 0.60 | 0.68 | 0.73 | 90 | Large Cap Growth Equities | AMIGX vs DNVYX | |
| Fidelity Large Cap Value Index Fund | 0.61 | 0.63 | 0.72 | 94 | Large Cap Value Equities | AMIGX vs FLCOX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AMIGX, 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 Hycroft Mining Holding Corporation (HYMC) (Basic Materials) with a 1Y correlation of 0.31, roughly unchanged from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hycroft Mining Holding Corporation | 0.31 | 0.19 | 0.21 | 97 | Basic Materials | |
| Albemarle Corporation | 0.33 | 0.32 | 0.40 | 77 | Basic Materials | |
| Newmont Corporation | 0.40 | 0.26 | 0.24 | 74 | Basic Materials | |
| Apple Inc | 0.41 | 0.49 | 0.63 | 89 | Technology | |
| First Solar, Inc. | 0.44 | 0.35 | 0.38 | 58 | Technology |
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