Looking to diversify beyond GPAIX? The mutual funds below have historically moved differently from GPAIX, 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 GPAIX
1 mutual funds have low correlation with GPAIX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Tactical Opportunities Fund (PCBAX) (Multistrategy) with a 1Y correlation of 0.07, 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 |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund | 0.07 | 0.15 | 0.09 | 83 | Multistrategy | GPAIX vs PCBAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.39 | 0.35 | 0.21 | 98 | Multistrategy | GPAIX vs EGRAX | |
| Catalyst/Millburn Hedge Strategy Fund Class I | 0.47 | 0.27 | 0.27 | 90 | Multistrategy, Systematic Trend, Global Equities | GPAIX vs MBXIX | |
| Catalyst/Millburn Hedge Strategy Fund | 0.47 | 0.27 | 0.27 | 89 | Multistrategy, Systematic Trend, Global Equities | GPAIX vs MBXAX | |
| OnTrack Core Fund | 0.58 | 0.48 | 0.43 | 81 | Tactical Allocation | GPAIX vs OTRFX |
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