Looking to diversify beyond GSIHX? The mutual funds below have historically moved differently from GSIHX, 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 GSIHX
5 mutual funds have low correlation with GSIHX (below 0.3), 0 of which are negatively correlated. The least correlated is Goldman Sachs Dynamic Municipal Income Fund (GSMIX) (Municipal Bonds) with a 1Y correlation of 0.15, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs Dynamic Municipal Income Fund | 0.15 | 0.11 | 0.08 | 72 | Municipal Bonds | GSIHX vs GSMIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.19 | 0.17 | 0.13 | 96 | Large Cap Blend Equities | GSIHX vs SVPFX | |
| Goldman Sachs Short Duration Bond Fund | 0.19 | 0.20 | 0.20 | 71 | Short-Term Bond | GSIHX vs GSSRX | |
| Barrow Hanley International Value Fund | 0.26 | — | — | 80 | Foreign Large Cap Equities | GSIHX vs BNIVX | |
| Thornburg Global Opportunities Fund | 0.27 | 0.57 | 0.68 | 92 | Foreign Large Cap Equities | GSIHX vs THOIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GSIHX, 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 Enbridge Inc. (ENB) (Energy) with a 1Y correlation of 0.39, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | 0.39 | 0.40 | 0.52 | 82 | Energy |
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