Looking to diversify beyond MGGIX? The mutual funds below have the lowest correlation with MGGIX — 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 MGGIX.
Best Diversifiers for MGGIX
2 mutual funds have low correlation with MGGIX (below 0.3), 0 of which are negatively correlated. The least correlated is DoubleLine Low Duration Bond Fund (DBLSX) (Short-Term Bond) with a 1Y correlation of 0.24, up from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DoubleLine Low Duration Bond Fund | 0.24 | 0.15 | 0.14 | 97 | Short-Term Bond | MGGIX vs DBLSX | |
| Guggenheim Limited Duration Fund | 0.25 | 0.16 | 0.17 | 88 | Short-Term Bond | MGGIX vs GILHX | |
| Russell Investment Tax-Managed Real Assets Fund | 0.36 | 0.47 | 0.56 | 80 | Global Equities | MGGIX vs RTXAX | |
| T. Rowe Price Real Assets Fund | 0.39 | 0.49 | 0.56 | 58 | Global Equities | MGGIX vs PRAFX | |
| Wasatch Global Value Fund Investor Class Shares | 0.48 | 0.41 | 0.49 | 90 | Global Equities | MGGIX vs FMIEX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MGGIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MGGIX and solid risk/return profiles. The least correlated is Prologis, Inc. (PLD) (Real Estate) with a 1Y correlation of 0.25, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Prologis, Inc. | 0.25 | 0.32 | 0.40 | 83 | Real Estate | |
| MSCI Inc. | 0.28 | 0.38 | 0.57 | 54 | Financial Services | |
| Thermo Fisher Scientific Inc. | 0.29 | 0.30 | 0.41 | 58 | Healthcare | |
| Cadence Design Systems, Inc. | 0.54 | 0.63 | 0.67 | 70 | Technology |
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