Looking to diversify beyond TGVAX? The mutual funds below have historically moved differently from TGVAX, 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 TGVAX
8 mutual funds have low correlation with TGVAX (below 0.3), 0 of which are negatively correlated. The least correlated is Thornburg Ultra Short Income Fund (TLDIX) (Ultrashort Bond) with a 1Y correlation of 0.14, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Thornburg Ultra Short Income Fund | 0.14 | 0.12 | 0.14 | 100 | Ultrashort Bond | TGVAX vs TLDIX | |
| Thornburg New Mexico Intermediate Municipal Fund | 0.21 | 0.17 | 0.17 | 66 | Municipal Bonds | TGVAX vs THNMX | |
| Thornburg Short Duration Municipal Fund | 0.24 | 0.14 | 0.14 | 83 | Municipal Bonds | TGVAX vs TLMIX | |
| Thornburg New York Intermediate Municipal Bond Fun... | 0.26 | 0.19 | 0.17 | 85 | Municipal Bonds | TGVAX vs THNYX | |
| Thornburg Strategic Municipal Income Fund | 0.26 | 0.20 | 0.17 | 83 | Municipal Bonds | TGVAX vs TSSIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for TGVAX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of 0.09, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | 0.09 | 0.11 | 0.15 | 97 | Healthcare | |
| Warner Bros. Discovery, Inc. | 0.15 | 0.28 | 0.35 | 96 | Communication Services | |
| BrightSpring Health Services, Inc | 0.22 | — | — | 98 | Healthcare |
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