Looking to diversify beyond IVNQX? The mutual funds below have historically moved differently from IVNQX, 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 IVNQX
29 mutual funds have low correlation with IVNQX (below 0.3), 10 of which are negatively correlated. The least correlated is Invesco SteelPath MLP Alpha Plus Fund Class R5 (SPMPX) (Energy Equities) with a 1Y correlation of -0.13, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco SteelPath MLP Alpha Plus Fund Class R5 | -0.13 | 0.14 | 0.27 | 78 | Energy Equities | IVNQX vs SPMPX | |
| Invesco SteelPath MLP Alpha Fund Class A | -0.12 | 0.16 | 0.28 | 80 | MLPs | IVNQX vs MLPAX | |
| Invesco Energy Fund | -0.12 | 0.06 | 0.18 | 74 | Energy Equities | IVNQX vs FSTEX | |
| Invesco SteelPath MLP Alpha Fund | -0.12 | 0.16 | 0.27 | 80 | Energy Equities | IVNQX vs MLPOX | |
| Invesco SteelPath MLP Alpha Plus Fund | -0.12 | 0.15 | 0.27 | 77 | Energy Equities | IVNQX vs MLPNX |
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