Looking to diversify beyond MGLBX? The mutual funds below have the lowest correlation with MGLBX — 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 MGLBX.
Best Diversifiers for MGLBX
4 mutual funds have low correlation with MGLBX (below 0.3), 0 of which are negatively correlated. The least correlated is Parametric Commodity Strategy Fund Class A (EAPCX) (Commodities) with a 1Y correlation of 0.02, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Parametric Commodity Strategy Fund Class A | 0.02 | 0.13 | 0.18 | 55 | Commodities | MGLBX vs EAPCX | |
| Nationwide Amundi Strategic Income Fund | 0.15 | 0.08 | 0.01 | 99 | Multisector Bonds | MGLBX vs NWXHX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.16 | 0.22 | 0.39 | 51 | Global Equities | MGLBX vs CSUAX | |
| AQR Managed Futures Strategy Fund | 0.19 | 0.16 | -0.03 | 90 | Systematic Trend | MGLBX vs AQMIX | |
| Russell Investment Tax-Managed Real Assets Fund | 0.35 | 0.41 | 0.54 | 76 | Global Equities | MGLBX vs RTXAX |
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