Looking to diversify beyond CNGLX? The mutual funds below have historically moved differently from CNGLX, 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 CNGLX
1 mutual funds have low correlation with CNGLX (below 0.3), 0 of which are negatively correlated. The least correlated is GQG Partners Global Quality Dividend Income Fund (GQFPX) (Quality Factor) with a 1Y correlation of 0.27, down from 0.64 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners Global Quality Dividend Income Fund | 0.27 | 0.54 | 0.64 | 70 | Quality Factor, Global Equities | CNGLX vs GQFPX | |
| Catalyst/Millburn Hedge Strategy Fund Class I | 0.35 | 0.34 | 0.38 | 90 | Multistrategy, Systematic Trend, Global Equities | CNGLX vs MBXIX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.38 | 0.49 | 0.60 | 79 | Infrastructure Equities, Global Equities | CNGLX vs CSUAX | |
| Nuveen Global Infrastructure Fund Class A | 0.42 | 0.54 | 0.66 | 66 | Infrastructure Equities, Global Equities | CNGLX vs FGIAX | |
| Commonwealth Japan Fund | 0.48 | 0.50 | 0.56 | 63 | Japan Equities, Asia Pacific Equities | CNGLX vs CNJFX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CNGLX, 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 Mitsubishi UFJ Financial Group, Inc. (MUFG) (Financial Services) with a 1Y correlation of 0.40, roughly unchanged from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Mitsubishi UFJ Financial Group, Inc. | 0.40 | 0.41 | 0.44 | 93 | Financial Services |
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