Looking to diversify beyond IDE? The mutual funds below have historically moved differently from IDE, 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 IDE
7 mutual funds have low correlation with IDE (below 0.3), 1 of which are negatively correlated. The least correlated is Recurrent MLP & Infrastructure Fund (RMLPX) (Infrastructure Equities) with a 1Y correlation of -0.05, down from 0.39 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Recurrent MLP & Infrastructure Fund | -0.05 | 0.26 | 0.39 | 92 | Infrastructure Equities, Energy Equities | IDE vs RMLPX | |
| Goldman Sachs Energy Infrastructure Fund Class P | 0.00 | 0.29 | 0.42 | 82 | Infrastructure Equities, MLPs | IDE vs GAMPX | |
| Goldman Sachs Energy Infrastructure Fund | 0.01 | 0.29 | 0.42 | 82 | Infrastructure Equities, Energy Equities | IDE vs GLEIX | |
| Transamerica Energy Infrastructure | 0.02 | 0.30 | 0.45 | 80 | Infrastructure Equities, Energy Equities | IDE vs TMLPX | |
| Salient MLP & Energy Infrastructure Fund | 0.07 | 0.32 | 0.44 | 74 | Infrastructure Equities, Energy Equities | IDE vs SMLPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for IDE, 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 Cohen & Steers Infrastructure Fund, Inc (UTF) (Financial Services) with a 1Y correlation of 0.37, roughly unchanged from 0.45 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cohen & Steers Infrastructure Fund, Inc | 0.37 | 0.39 | 0.45 | 74 | Financial Services | |
| Reaves Utility Income Trust | 0.40 | 0.43 | 0.50 | 55 | Financial Services |
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