Looking to diversify beyond GDL? The mutual funds below have historically moved differently from GDL, 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 GDL
17 mutual funds have low correlation with GDL (below 0.3), 2 of which are negatively correlated. The least correlated is Camelot Event-Driven Fund Institutional Class (EVDIX) (Event Driven) with a 1Y correlation of -0.04, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Camelot Event-Driven Fund Institutional Class | -0.04 | 0.14 | 0.16 | 54 | Event Driven | GDL vs EVDIX | |
| Camelot Event Driven Fund Class A | -0.03 | 0.13 | 0.16 | 52 | Event Driven | GDL vs EVDAX | |
| The Merger Fund Class I | 0.04 | 0.11 | 0.12 | 97 | Event Driven | GDL vs MERIX | |
| The Arbitrage Fund | 0.05 | 0.16 | 0.19 | 95 | Event Driven | GDL vs ARBFX | |
| NexPoint Merger Arbitrage Fund | 0.06 | 0.13 | 0.13 | 99 | Event Driven | GDL vs HMEZX |
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