Looking to diversify beyond DODLX? The mutual funds below have historically moved differently from DODLX, 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 DODLX
8 mutual funds have low correlation with DODLX (below 0.3), 1 of which are negatively correlated. The least correlated is AQR Managed Futures Strategy HV Fund (QMHIX) (Systematic Trend) with a 1Y correlation of -0.19, up from -0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Managed Futures Strategy HV Fund | -0.19 | -0.20 | -0.36 | 83 | Systematic Trend | DODLX vs QMHIX | |
| Baird Ultra Short Bond Fund Institutional Class | 0.08 | 0.25 | 0.26 | 99 | Ultrashort Bond | DODLX vs BUBIX | |
| Fidelity Floating Rate High Income Fund | 0.09 | 0.08 | 0.25 | 94 | Bank Loan | DODLX vs FFRHX | |
| Vivaldi Merger Arbitrage Fund Class I | 0.16 | 0.10 | 0.12 | 99 | Event Driven | DODLX vs VARBX | |
| Fidelity Series Floating Rate High Income Fund | 0.18 | 0.12 | 0.27 | 95 | High Yield Bonds | DODLX vs FFHCX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DODLX, 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 AXIS Capital Holdings Limited (AXS) (Financial Services) with a 1Y correlation of 0.03, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AXIS Capital Holdings Limited | 0.03 | 0.07 | 0.12 | 59 | Financial Services | |
| HCI Group, Inc. | 0.05 | 0.13 | 0.14 | 66 | Financial Services | |
| Skyward Specialty Insurance Group Inc. Common Stoc... | 0.07 | 0.07 | 0.06 | 64 | Financial Services | |
| NVIDIA Corporation | 0.14 | 0.11 | 0.22 | 59 | Technology | |
| Eli Lilly and Company | 0.15 | 0.13 | 0.12 | 77 | Healthcare |
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