Looking to diversify beyond MEGI? The mutual funds below have the lowest correlation with MEGI — 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 MEGI.
Best Diversifiers for MEGI
4 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 0.16, roughly unchanged from 0.20 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.16 | 0.20 | — | 97 | Emerging Markets Bonds | MEGI vs EADOX | |
| The Gabelli Utility Trust | 0.22 | 0.19 | — | 56 | Utilities Equities | MEGI vs GUT | |
| Oberweis Global Opportunities Fund | 0.26 | 0.36 | — | 71 | Global Equities | MEGI vs OBEGX | |
| Boston Partners Global Sustainability Fund | 0.29 | 0.44 | 0.52 | 60 | Global Equities | MEGI vs BPGSX | |
| Artisan Global Equity Fund | 0.31 | 0.37 | 0.45 | 70 | Global Equities | MEGI vs ARTHX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MEGI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MEGI and solid risk/return profiles. The least correlated is Cohen & Steers Quality Income Realty Fund (RQI) (Financial Services) with a 1Y correlation of 0.51, roughly unchanged from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cohen & Steers Quality Income Realty Fund | 0.51 | 0.54 | 0.53 | 67 | Financial Services |
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