Looking to diversify beyond DODLX? The mutual funds below have the lowest correlation with DODLX — 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 DODLX.
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 -0.08, up from -0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Managed Futures Strategy HV Fund | -0.08 | -0.22 | -0.35 | 82 | Systematic Trend | DODLX vs QMHIX | |
| Baird Ultra Short Bond Fund Institutional Class | 0.08 | 0.25 | 0.25 | 100 | Ultrashort Bond | DODLX vs BUBIX | |
| Fidelity Floating Rate High Income Fund | 0.13 | 0.10 | 0.25 | 92 | High Yield Bonds | DODLX vs FFRHX | |
| Vivaldi Merger Arbitrage Fund Class I | 0.14 | 0.08 | 0.12 | 98 | Event Driven | DODLX vs VARBX | |
| Fidelity Series Floating Rate High Income Fund | 0.16 | 0.14 | 0.28 | 93 | High Yield Bonds | DODLX vs FFHCX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DODLX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DODLX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.07, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.07 | 0.12 | 0.22 | 78 | Technology | |
| Eli Lilly and Company | 0.17 | 0.12 | 0.12 | 72 | Healthcare | |
| Amazon.com, Inc | 0.20 | 0.16 | 0.24 | 60 | Consumer Cyclical | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.24 | 0.16 | 0.24 | 95 | Technology | |
| Healthcare Services Group, Inc. | 0.27 | 0.20 | 0.22 | 73 | Healthcare |
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