Looking to diversify beyond MFIOX? The mutual funds below have the lowest correlation with MFIOX — 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 MFIOX.
Best Diversifiers for MFIOX
2 mutual funds have low correlation with MFIOX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Small Cap Value Fund (VSCAX) (Small Cap Value Equities) with a 1Y correlation of 0.22, up from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Small Cap Value Fund | 0.22 | 0.20 | 0.11 | 87 | Small Cap Value Equities | MFIOX vs VSCAX | |
| BlackRock Event Driven Equity Fund | 0.29 | 0.26 | 0.22 | 74 | Event Driven | MFIOX vs BILPX | |
| Franklin Convertible Securities Fund | 0.31 | 0.27 | 0.24 | 72 | Convertible Bonds | MFIOX vs FISCX | |
| Columbia Dividend Income Fund | 0.32 | 0.24 | 0.18 | 79 | Large Cap Value Equities | MFIOX vs GSFTX | |
| Putnam Large Cap Value Fund | 0.33 | 0.26 | 0.17 | 84 | Large Cap Value Equities | MFIOX vs PEIYX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MFIOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MFIOX and solid risk/return profiles. The least correlated is Applied Materials, Inc. (AMAT) (Technology) with a 1Y correlation of 0.04, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Applied Materials, Inc. | 0.04 | 0.05 | 0.07 | 98 | Technology | |
| Amazon.com, Inc | 0.19 | 0.11 | 0.13 | 52 | Consumer Cyclical | |
| Getty Realty Corp. | 0.24 | 0.32 | 0.23 | 74 | Real Estate |
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