Looking to diversify beyond MDOEX? The mutual funds below have the lowest correlation with MDOEX — 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 MDOEX.
Best Diversifiers for MDOEX
1 mutual funds have low correlation with MDOEX (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio (MUIIX) (Ultrashort Bond) with a 1Y correlation of 0.04, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.04 | 0.01 | 0.03 | 99 | Ultrashort Bond | MDOEX vs MUIIX | |
| Ashmore Emerging Markets Small Cap Equity Fund | 0.44 | 0.58 | 0.64 | 85 | Emerging Markets Diversified | MDOEX vs ESCIX | |
| UBS Emerging Markets Equity Opportunity Fund | 0.58 | 0.66 | 0.70 | 94 | Emerging Markets Diversified | MDOEX vs EMPTX | |
| Cullen Emerging Markets High Dividend Fund | 0.59 | 0.65 | 0.66 | 92 | Emerging Markets Diversified | MDOEX vs CEMFX | |
| Wasatch Emerging Markets Small Cap Fund | 0.65 | 0.58 | 0.63 | 61 | Emerging Markets Diversified | MDOEX vs WAEMX |
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