Looking to diversify beyond UGOFX? The mutual funds below have the lowest correlation with UGOFX — 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 UGOFX.
Best Diversifiers for UGOFX
0 mutual funds have low correlation with UGOFX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Global Long/Short Equity Fund Class I (BDMIX) (Long-Short) with a 1Y correlation of 0.40, up from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Long/Short Equity Fund Class I | 0.40 | 0.22 | 0.16 | 95 | Long-Short | UGOFX vs BDMIX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.46 | 0.35 | 0.16 | 60 | Systematic Trend | UGOFX vs ASFYX | |
| Russell Investment Tax-Managed Real Assets Fund | 0.60 | 0.68 | 0.75 | 76 | Global Equities | UGOFX vs RTXAX | |
| Polaris Global Value Fund | 0.61 | 0.69 | 0.76 | 92 | Global Equities | UGOFX vs PGVFX | |
| Wasatch Global Value Fund Investor Class Shares | 0.66 | 0.63 | 0.72 | 86 | Global Equities | UGOFX vs FMIEX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from UGOFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to UGOFX and solid risk/return profiles. The least correlated is Nebius Group N.V. (NBIS) (Communication Services) with a 1Y correlation of 0.27, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nebius Group N.V. | 0.27 | 0.32 | 0.32 | 96 | Communication Services | |
| Equinox Gold Corp. | 0.30 | 0.26 | 0.30 | 72 | Basic Materials | |
| Seabridge Gold Inc. | 0.38 | 0.33 | 0.33 | 80 | Basic Materials | |
| Sumitomo Mitsui Financial Group, Inc. | 0.53 | 0.44 | 0.46 | 90 | Financial Services |
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