Looking to diversify beyond DODEX? The mutual funds below have the lowest correlation with DODEX — 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 DODEX.
Best Diversifiers for DODEX
1 mutual funds have low correlation with DODEX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Floating Rate Fund (PAFRX) (Bank Loan) with a 1Y correlation of 0.30, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Floating Rate Fund | 0.30 | 0.28 | 0.31 | 82 | Bank Loan | DODEX vs PAFRX | |
| Fidelity New Markets Income Fund | 0.44 | 0.35 | 0.36 | 94 | Emerging Markets Bonds | DODEX vs FNMIX | |
| Ashmore Emerging Markets Small Cap Equity Fund | 0.48 | 0.63 | 0.70 | 87 | Emerging Markets Diversified | DODEX vs ESCIX | |
| Berkshire Focus Fund | 0.53 | 0.52 | 0.54 | 76 | Technology Equities | DODEX vs BFOCX | |
| Permanent Portfolio Aggressive Growth Portfolio | 0.56 | 0.62 | 0.65 | 65 | Large Cap Blend Equities | DODEX vs PAGRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DODEX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DODEX and solid risk/return profiles. The least correlated is Intel Corporation (INTC) (Technology) with a 1Y correlation of 0.31, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Intel Corporation | 0.31 | 0.37 | 0.42 | 99 | Technology | |
| Wheaton Precious Metals Corp. | 0.33 | 0.34 | 0.35 | 64 | Basic Materials | |
| National Energy Services Reunited Corp. | 0.42 | 0.30 | 0.31 | 98 | Energy |
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