Looking to diversify beyond GABAX? The mutual funds below have historically moved differently from GABAX, 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 GABAX
2 mutual funds have low correlation with GABAX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes MDT All Cap Core Fund Class R6 (QKACX) (Large Cap Blend Equities) with a 1Y correlation of 0.28, down from 0.69 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT All Cap Core Fund Class R6 | 0.28 | 0.49 | 0.69 | 50 | Large Cap Blend Equities | GABAX vs QKACX | |
| Federated Hermes MDT All Cap Core Fund | 0.28 | 0.49 | 0.69 | 53 | Large Cap Blend Equities | GABAX vs QIACX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.35 | 0.19 | 0.15 | 97 | Large Cap Blend Equities | GABAX vs SVPFX | |
| Gabelli Global Content & Connectivity Fund | 0.42 | 0.61 | 0.71 | 59 | Communications Equities | GABAX vs GABTX | |
| Gabelli Global Content & Connectivity Fund Class I | 0.42 | 0.61 | 0.71 | 58 | Technology Equities | GABAX vs GTTIX |
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