Looking to diversify beyond LMGNX? The mutual funds below have historically moved differently from LMGNX, 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 LMGNX
1 mutual funds have low correlation with LMGNX (below 0.3), 1 of which are negatively correlated. The least correlated is PIMCO CommoditiesPLUS Strategy Fund (PCLAX) (Commodities) with a 1Y correlation of -0.15, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO CommoditiesPLUS Strategy Fund | -0.15 | -0.01 | 0.12 | 70 | Commodities | LMGNX vs PCLAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.34 | 0.31 | 0.18 | 98 | Nontraditional Bonds | LMGNX vs EGRIX | |
| Eaton Vance Floating Rate Fund | 0.34 | 0.34 | 0.35 | 51 | Bank Loan | LMGNX vs EIBLX | |
| Franklin Income Fund Advisor Class | 0.45 | 0.49 | 0.61 | 93 | Diversified Portfolio | LMGNX vs FRIAX | |
| Franklin Income Fund Class A1 | 0.47 | 0.53 | 0.61 | 87 | Diversified Portfolio | LMGNX vs FKINX |
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