Looking to diversify beyond GSRAX? The mutual funds below have the lowest correlation with GSRAX — 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 GSRAX.
Best Diversifiers for GSRAX
10 mutual funds have low correlation with GSRAX (below 0.3), 0 of which are negatively correlated. The least correlated is Goldman Sachs Short-Term Conservative Income Fund (GPPIX) (Ultrashort Bond) with a 1Y correlation of 0.11, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs Short-Term Conservative Income Fund | 0.11 | 0.09 | 0.07 | 99 | Ultrashort Bond | GSRAX vs GPPIX | |
| Goldman Sachs Dynamic Municipal Income Fund Invest... | 0.16 | 0.16 | 0.11 | 73 | Municipal Bonds | GSRAX vs GUIRX | |
| Goldman Sachs High Yield Municipal Fund Institutio... | 0.16 | 0.17 | 0.13 | 60 | High Yield Muni | GSRAX vs GHYIX | |
| Goldman Sachs Dynamic Municipal Income Fund | 0.17 | 0.14 | 0.11 | 71 | Municipal Bonds | GSRAX vs GSMIX | |
| Goldman Sachs Local Emerging Markets Debt Fund | 0.17 | 0.25 | 0.33 | 81 | Emerging Markets Bonds | GSRAX vs GIMDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GSRAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GSRAX and solid risk/return profiles. The least correlated is The Goldman Sachs Group, Inc. (GS) (Financial Services) with a 1Y correlation of 0.58, roughly unchanged from 0.68 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Goldman Sachs Group, Inc. | 0.58 | 0.63 | 0.68 | 91 | Financial Services |
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