Looking to diversify beyond GCV? The mutual funds below have historically moved differently from GCV, 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 GCV
1 mutual funds have low correlation with GCV (below 0.3), 0 of which are negatively correlated. The least correlated is Lazard Enhanced Opportunities Portfolio Open Shares (LEOOX) (Convertible Bonds) with a 1Y correlation of 0.22, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lazard Enhanced Opportunities Portfolio Open Share... | 0.22 | 0.15 | 0.13 | 75 | Convertible Bonds | GCV vs LEOOX | |
| The Gabelli Dividend and Income Trust | 0.37 | 0.38 | 0.34 | 71 | Dividend | GCV vs GDV | |
| Miller Convertible Bond Fund | 0.42 | 0.39 | 0.36 | 92 | Convertible Bonds | GCV vs MCIFX | |
| Absolute Convertible Arbitrage Fund Institutional ... | 0.44 | 0.22 | 0.23 | 100 | Multistrategy, Convertible Bonds | GCV vs ARBIX | |
| Rational/Pier 88 Convertible Securities Fund | 0.45 | 0.40 | 0.36 | 50 | Convertible Bonds | GCV vs PBXIX |
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