Looking to diversify beyond GOF? The mutual funds below have historically moved differently from GOF, 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 GOF
16 mutual funds have low correlation with GOF (below 0.3), 0 of which are negatively correlated. The least correlated is Guggenheim Alpha Opportunity Fund (SAOAX) (Long-Short) with a 1Y correlation of 0.10, roughly unchanged from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Guggenheim Alpha Opportunity Fund | 0.10 | 0.09 | 0.09 | 82 | Long-Short | GOF vs SAOAX | |
| CrossingBridge Low Duration High Yield Fund | 0.14 | 0.16 | 0.17 | 95 | Multisector Bonds | GOF vs CBLDX | |
| Rational Special Situations Income Fund | 0.14 | 0.12 | 0.11 | 98 | Multisector Bonds | GOF vs RFXIX | |
| Guggenheim Ultra Short Duration Fund | 0.16 | 0.15 | 0.19 | 99 | Ultrashort Bond | GOF vs GIYIX | |
| Nationwide Amundi Strategic Income Fund | 0.17 | 0.17 | 0.14 | 99 | Multisector Bonds | GOF vs NWXHX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GOF, 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 Ventas, Inc. (VTR) (Real Estate) with a 1Y correlation of -0.05, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ventas, Inc. | -0.05 | 0.09 | 0.19 | 88 | Real Estate | |
| Energy Transfer LP | -0.04 | 0.13 | 0.23 | 82 | Energy | |
| MPLX LP | -0.02 | 0.17 | 0.25 | 82 | Energy | |
| Realty Income Corporation | 0.01 | 0.16 | 0.20 | 74 | Real Estate | |
| British American Tobacco p.l.c. | 0.03 | 0.12 | 0.14 | 64 | Consumer Defensive |
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