Looking to diversify beyond KNGLX? The mutual funds below have historically moved differently from KNGLX, 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 KNGLX
27 mutual funds have low correlation with KNGLX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) (Derivative Income) with a 1Y correlation of 0.11, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.11 | 0.28 | 0.44 | 63 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | KNGLX vs QQQX | |
| Virtus Equity & Convertible Income Fund | 0.18 | 0.37 | 0.53 | 66 | Derivative Income, Convertible Bonds | KNGLX vs NIE | |
| First Trust Enhanced Equity Income Fund | 0.22 | 0.42 | 0.57 | 56 | Derivative Income | KNGLX vs FFA | |
| Fidelity Dividend Growth Fund | 0.28 | 0.46 | 0.65 | 78 | Large Cap Blend Equities, Dividend | KNGLX vs FDGFX | |
| Cboe Vest US Large Cap 10% Buffer Fund | 0.28 | 0.49 | 0.66 | 66 | Options Trading | KNGLX vs BUIGX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for KNGLX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.15 | 0.35 | 0.53 | 89 |
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