Looking to diversify beyond HGLB? The mutual funds below have the lowest correlation with HGLB — 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 HGLB.
Best Diversifiers for HGLB
14 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 0.10, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| NexPoint Merger Arbitrage Fund | 0.11 | 0.15 | 0.17 | 99 | Event Driven | HGLB vs HMEZX | |
| LoCorr Macro Strategies Fund Class I | 0.11 | -0.05 | -0.05 | 92 | Global Allocation | HGLB vs LFMIX | |
| Wilmington Real Asset Fund | 0.20 | 0.27 | 0.32 | 57 | Global Allocation | HGLB vs WMRIX | |
| Morningstar Global Income Fund | 0.22 | 0.30 | 0.34 | 68 | Global Allocation | HGLB vs MSTGX | |
| Allspring Absolute Return Fund | 0.23 | 0.27 | 0.31 | 85 | Global Allocation | HGLB vs WARAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HGLB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HGLB and solid risk/return profiles. The least correlated is Trinity Capital Inc. (TRIN) (Financial Services) with a 1Y correlation of 0.18, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Trinity Capital Inc. | 0.18 | 0.21 | 0.20 | 89 | Financial Services |
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