Looking to diversify beyond MGPIX? The mutual funds below have historically moved differently from MGPIX, 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 MGPIX
1 mutual funds have low correlation with MGPIX (below 0.3), 1 of which are negatively correlated. The least correlated is ProFunds UltraSector Oil & Gas Fund (ENPIX) (Leveraged Equities) with a 1Y correlation of -0.06, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraSector Oil & Gas Fund | -0.06 | 0.25 | 0.37 | 63 | Leveraged Equities | MGPIX vs ENPIX | |
| ProFunds Biotechnology UltraSector Fund | 0.50 | 0.60 | 0.63 | 94 | Leveraged Equities | MGPIX vs BIPIX | |
| ProFunds UltraJapan Fund | 0.66 | 0.62 | 0.64 | 88 | Leveraged Equities | MGPIX vs UJPIX | |
| PRIMECAP Odyssey Aggressive Growth Fund | 0.84 | 0.83 | 0.86 | 78 | Mid Cap Growth Equities | MGPIX vs POAGX | |
| Vanguard Capital Opportunity Fund Investor Shares | 0.85 | 0.83 | 0.87 | 84 | Mid Cap Growth Equities | MGPIX vs VHCOX |
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