Looking to diversify beyond RWGIX? The mutual funds below have historically moved differently from RWGIX, 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 RWGIX
2 mutual funds have low correlation with RWGIX (below 0.3), 0 of which are negatively correlated. The least correlated is RiverPark Floating Rate CMBS Fund (RCRIX) (Bank Loan) with a 1Y correlation of 0.09, roughly unchanged from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RiverPark Floating Rate CMBS Fund | 0.09 | 0.06 | 0.05 | 99 | Bank Loan | RWGIX vs RCRIX | |
| RiverPark Short Term High Yield Fund | 0.14 | 0.15 | 0.16 | 99 | High Yield Bonds | RWGIX vs RPHIX | |
| RiverPark Strategic Income Fund | 0.41 | 0.29 | 0.30 | 65 | High Yield Bonds | RWGIX vs RSIIX | |
| American Growth Fund Series One | 0.53 | 0.72 | 0.79 | 55 | Large Cap Growth Equities | RWGIX vs AMRGX | |
| PRIMECAP Odyssey Growth Fund | 0.53 | 0.70 | 0.79 | 88 | Large Cap Blend Equities | RWGIX vs POGRX |
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