Looking to diversify beyond MDDVX? The mutual funds below have historically moved differently from MDDVX, 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 MDDVX
2 mutual funds have low correlation with MDDVX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Energy Fund (FSTEX) (Energy Equities) with a 1Y correlation of 0.08, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Energy Fund | 0.08 | 0.34 | 0.48 | 73 | Energy Equities | MDDVX vs FSTEX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.22 | 0.08 | 0.06 | 97 | Equity Market Neutral | MDDVX vs BDMIX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.35 | 0.26 | 0.13 | 66 | Systematic Trend | MDDVX vs ASFYX | |
| Allspring Emerging Markets Equity Income Fund | 0.42 | 0.42 | 0.52 | 63 | Dividend, Emerging Markets Equities | MDDVX vs EQIIX | |
| Federated Hermes Strategic Value Dividend Fund Cla... | 0.46 | 0.63 | 0.74 | 93 | Dividend | MDDVX vs SVAAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MDDVX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.37, roughly unchanged from 0.47 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.37 | 0.33 | 0.47 | 89 | Technology |
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