Looking to diversify beyond MGLBX? The mutual funds below have historically moved differently from MGLBX, 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 MGLBX
7 mutual funds have low correlation with MGLBX (below 0.3), 1 of which are negatively correlated. The least correlated is GQG Partners Global Quality Dividend Income Fund (GQFPX) (Quality Factor) with a 1Y correlation of -0.04, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners Global Quality Dividend Income Fund | -0.04 | 0.32 | 0.44 | 70 | Quality Factor, Global Equities | MGLBX vs GQFPX | |
| Parametric Commodity Strategy Fund Class A | 0.09 | 0.13 | 0.17 | 84 | Commodities | MGLBX vs EAPCX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.11 | 0.20 | 0.37 | 79 | Infrastructure Equities, Global Equities | MGLBX vs CSUAX | |
| AQR Managed Futures Strategy Fund - Class I | 0.19 | 0.17 | -0.03 | 90 | Systematic Trend | MGLBX vs AQMIX | |
| Nuveen Global Infrastructure Fund Class A | 0.20 | 0.30 | 0.46 | 66 | Infrastructure Equities, Global Equities | MGLBX vs FGIAX |
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