Looking to diversify beyond GRHIX? The mutual funds below have historically moved differently from GRHIX, 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 GRHIX
6 mutual funds have low correlation with GRHIX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco SteelPath MLP Income Fund (MLPZX) (Energy Equities) with a 1Y correlation of 0.26, down from 0.62 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco SteelPath MLP Income Fund | 0.26 | 0.45 | 0.62 | 85 | Energy Equities | GRHIX vs MLPZX | |
| Cohen & Steers Global Infrastructure Fund, Inc. | 0.27 | 0.36 | 0.45 | 67 | Infrastructure Equities, Energy Equities | GRHIX vs CSUIX | |
| JHancock Infrastructure Fund | 0.28 | 0.39 | 0.46 | 75 | Infrastructure Equities, Energy Equities | GRHIX vs JEEIX | |
| Invesco SteelPath MLP Alpha Plus Fund Class R5 | 0.28 | 0.47 | 0.64 | 75 | Energy Equities | GRHIX vs SPMPX | |
| Invesco SteelPath MLP Alpha Plus Fund | 0.30 | 0.47 | 0.64 | 77 | Energy Equities | GRHIX vs MLPNX |
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