Looking to diversify beyond GSPAX? The mutual funds below have the lowest correlation with GSPAX — 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 GSPAX.
Best Diversifiers for GSPAX
2 mutual funds have low correlation with GSPAX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund Class A (SVAAX) (Dividend) with a 1Y correlation of 0.22, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund Cla... | 0.22 | 0.36 | 0.53 | 68 | Dividend | GSPAX vs SVAAX | |
| Goldman Sachs Short Duration Bond Fund | 0.26 | 0.22 | 0.25 | 69 | Short-Term Bond | GSPAX vs GSSRX | |
| EuroPac International Dividend Income Fund Class A | 0.43 | 0.38 | 0.47 | 87 | Foreign Large Cap Equities, Dividend | GSPAX vs EPDPX | |
| Pioneer Multi-Asset Income Fund A | 0.46 | 0.43 | 0.50 | 89 | Diversified Portfolio, Dividend | GSPAX vs PMAIX | |
| Columbia Dividend Income Fund Institutional 3 Clas... | 0.67 | 0.74 | 0.82 | 68 | Large Cap Value Equities, Dividend | GSPAX vs CDDYX |
See all 18 diversifiers for GSPAX
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Diversification Analysis
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