Looking to diversify beyond DODEX? The mutual funds below have historically moved differently from DODEX, 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 DODEX
4 mutual funds have low correlation with DODEX (below 0.3), 0 of which are negatively correlated. The least correlated is DoubleLine Strategic Commodity Fund (DBCMX) (Commodities) with a 1Y correlation of 0.02, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DoubleLine Strategic Commodity Fund | 0.02 | 0.19 | 0.25 | 86 | Commodities | DODEX vs DBCMX | |
| Fidelity Select Energy Portfolio | 0.03 | 0.22 | 0.33 | 87 | Energy Equities | DODEX vs FSENX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.19 | 0.47 | 0.59 | 51 | Foreign Large Cap Equities, Emerging Markets Equities | DODEX vs GSIYX | |
| The Cook & Bynum Fund | 0.25 | 0.39 | 0.48 | 70 | Emerging Markets Equities | DODEX vs COBYX | |
| Dodge & Cox Stock Fund Class I | 0.32 | 0.46 | 0.56 | 60 | Large Cap Value Equities | DODEX vs DODGX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DODEX, 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 Intel Corporation (INTC) (Technology) with a 1Y correlation of 0.36, roughly unchanged from 0.43 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Intel Corporation | 0.36 | 0.38 | 0.43 | 98 | Technology | |
| Wheaton Precious Metals Corp. | 0.41 | 0.34 | 0.34 | 59 | Basic Materials | |
| National Energy Services Reunited Corp. | 0.42 | 0.33 | 0.32 | 99 | Energy |
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