Looking to diversify beyond MEGI? The mutual funds below have historically moved differently from MEGI, 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 MEGI
8 mutual funds have low correlation with MEGI (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Emerging Markets Debt Opportunities Fund Class A (EADOX) (Emerging Markets Bonds) with a 1Y correlation of 0.22, roughly unchanged from 0.21 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.22 | 0.21 | — | 98 | Emerging Markets Bonds | MEGI vs EADOX | |
| Recurrent MLP & Infrastructure Fund | 0.23 | 0.32 | — | 92 | Infrastructure Equities, Energy Equities | MEGI vs RMLPX | |
| American Funds The New Economy Fund Class A | 0.23 | 0.28 | — | 72 | Global Equities, Actively Managed | MEGI vs ANEFX | |
| American Funds The New Economy Fund® Class F-2 | 0.23 | 0.28 | — | 70 | Global Equities | MEGI vs NEFFX | |
| Oberweis Global Opportunities Fund | 0.25 | 0.34 | — | 54 | Global Equities | MEGI vs OBEGX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MEGI, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Dynex Capital, Inc. (DX) (Real Estate) with a 1Y correlation of 0.30, roughly unchanged from 0.39 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Dynex Capital, Inc. | 0.30 | 0.34 | 0.39 | 73 | Real Estate | |
| BlackRock Capital Allocation Term Trust | 0.32 | 0.31 | 0.41 | 95 | Financial Services | |
| Cohen & Steers Quality Income Realty Fund, Inc. | 0.48 | 0.53 | — | 66 | Financial Services | |
| Cohen & Steers Infrastructure Fund, Inc | 0.59 | 0.62 | — | 74 | Financial Services |
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