Looking to diversify beyond IGIAX? The mutual funds below have the lowest correlation with IGIAX — 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 IGIAX.
Best Diversifiers for IGIAX
7 mutual funds have low correlation with IGIAX (below 0.3), 0 of which are negatively correlated. The least correlated is Maine Municipal Fund (MEMUX) (Municipal Bonds) with a 1Y correlation of 0.12, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Maine Municipal Fund | 0.12 | 0.10 | 0.10 | 73 | Municipal Bonds | IGIAX vs MEMUX | |
| Oklahoma Municipal Fund | 0.12 | 0.12 | 0.10 | 76 | Municipal Bonds | IGIAX vs OKMUX | |
| Nebraska Municipal Fund | 0.13 | 0.12 | 0.11 | 86 | Municipal Bonds | IGIAX vs NEMUX | |
| Viking Tax-Free Fund For Montana | 0.14 | 0.12 | 0.10 | 86 | Municipal Bonds | IGIAX vs VMTTX | |
| Kansas Municipal Fund | 0.14 | 0.11 | 0.10 | 82 | Municipal Bonds | IGIAX vs KSMUX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IGIAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IGIAX and solid risk/return profiles. The least correlated is Innovative Industrial Properties, Inc. (IIPR) (Real Estate) with a 1Y correlation of 0.31, down from 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Innovative Industrial Properties, Inc. | 0.31 | 0.38 | 0.50 | 58 | Real Estate |
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