Looking to diversify beyond LMGNX? The mutual funds below have the lowest correlation with LMGNX — 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 LMGNX.
Best Diversifiers for LMGNX
1 mutual funds have low correlation with LMGNX (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX) (Nontraditional Bonds) with a 1Y correlation of 0.28, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Global Macro Absolute Return Advantage... | 0.28 | 0.30 | 0.18 | 98 | Nontraditional Bonds | LMGNX vs EGRIX | |
| Baron Partners Fund | 0.44 | 0.50 | 0.58 | 52 | Large Cap Growth Equities | LMGNX vs BPTRX | |
| Franklin Income Fund Advisor Class | 0.52 | 0.52 | 0.62 | 87 | Diversified Portfolio | LMGNX vs FRIAX | |
| Franklin Income Fund Class A1 | 0.55 | 0.55 | 0.63 | 82 | Diversified Portfolio | LMGNX vs FKINX | |
| Adams Diversified Equity Fund, Inc. | 0.64 | 0.69 | 0.75 | 61 | Large Cap Blend Equities | LMGNX vs ADX |
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