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
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 0.18, roughly unchanged from 0.21 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.18 | 0.21 | — | 98 | Emerging Markets Bonds | MEGI vs EADOX | |
| T. Rowe Price Global Technology Fund I Class | 0.19 | 0.18 | — | 78 | Technology Equities, Global Equities | MEGI vs PGTIX | |
| American Funds The New Economy Fund | 0.22 | 0.27 | — | 80 | Global Equities | MEGI vs ANEFX | |
| The Gabelli Utility Trust | 0.22 | 0.20 | — | 81 | Utilities Equities | MEGI vs GUT | |
| American Funds The New Economy Fund® Class F-2 | 0.23 | 0.28 | — | 80 | Global Equities | MEGI vs NEFFX |
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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 Dynex Capital, Inc. (DX) (Real Estate) with a 1Y correlation of 0.33, roughly unchanged from 0.34 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Dynex Capital, Inc. | 0.33 | 0.34 | — | 73 | Real Estate | |
| Cohen & Steers Quality Income Realty Fund, Inc. | 0.52 | 0.54 | 0.53 | 61 | Financial Services |
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