Looking to diversify beyond MFIOX? The mutual funds below have historically moved differently from MFIOX, 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 MFIOX
6 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 0.19, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Small Cap Value Fund | 0.19 | 0.18 | 0.12 | 76 | Small Cap Value Equities | MFIOX vs VSCAX | |
| MFS Value Fund | 0.27 | 0.25 | 0.20 | 67 | Large Cap Value Equities | MFIOX vs MEIAX | |
| MFS Value Fund Class I | 0.27 | 0.25 | 0.20 | 69 | Large Cap Value Equities | MFIOX vs MEIIX | |
| MFS Value Fund | 0.27 | 0.25 | 0.20 | 70 | Large Cap Value Equities | MFIOX vs MEIKX | |
| BlackRock Event Driven Equity Fund | 0.27 | 0.25 | 0.23 | 82 | Event Driven | MFIOX vs BILPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MFIOX, 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 Applied Materials, Inc. (AMAT) (Technology) with a 1Y correlation of 0.04, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Applied Materials, Inc. | 0.04 | 0.05 | 0.08 | 95 | Technology | |
| Getty Realty Corp. | 0.20 | 0.33 | 0.24 | 86 | Real Estate | |
| Amazon.com, Inc | 0.23 | 0.11 | 0.13 | 60 | Consumer Cyclical |
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