Looking to diversify beyond GPAIX? The mutual funds below have the lowest correlation with GPAIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from GPAIX.
Best Diversifiers for GPAIX
2 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) (Macro Trading) with a 1Y correlation of 0.05, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund | 0.05 | 0.14 | 0.09 | 72 | Macro Trading | GPAIX vs PCBAX | |
| abrdn Global Absolute Return Strategies Fund | 0.28 | 0.28 | 0.21 | 53 | Macro Trading | GPAIX vs CGFIX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.38 | 0.34 | 0.21 | 98 | Macro Trading | GPAIX vs EGRAX | |
| Catalyst/Millburn Hedge Strategy Fund | 0.46 | 0.26 | 0.27 | 91 | Macro Trading | GPAIX vs MBXAX | |
| OnTrack Core Fund | 0.54 | 0.47 | 0.43 | 80 | Macro Trading | GPAIX vs OTRFX |
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