Looking to diversify beyond HGLB? The mutual funds below have historically moved differently from HGLB, 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 HGLB
15 mutual funds have low correlation with HGLB (below 0.3), 0 of which are negatively correlated. The least correlated is NexPoint Merger Arbitrage Fund (HMEZX) (Event Driven) with a 1Y correlation of 0.07, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| NexPoint Merger Arbitrage Fund | 0.07 | 0.14 | 0.16 | 99 | Event Driven | HGLB vs HMEZX | |
| LoCorr Macro Strategies Fund Class I | 0.08 | -0.04 | -0.06 | 81 | Global Allocation | HGLB vs LFMIX | |
| Wilmington Real Asset Fund | 0.20 | 0.25 | 0.31 | 91 | Global Allocation | HGLB vs WMRIX | |
| Allspring Absolute Return Fund | 0.21 | 0.26 | 0.30 | 86 | Global Allocation | HGLB vs WARAX | |
| Morningstar Global Income Fund | 0.21 | 0.29 | 0.33 | 79 | Global Allocation | HGLB vs MSTGX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HGLB, 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 Trinity Capital Inc. (TRIN) (Financial Services) with a 1Y correlation of 0.17, roughly unchanged from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Trinity Capital Inc. | 0.17 | 0.20 | 0.19 | 86 | Financial Services |
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