Looking to diversify beyond MLOZX? The mutual funds below have the lowest correlation with MLOZX — 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 MLOZX.
Best Diversifiers for MLOZX
5 mutual funds have low correlation with MLOZX (below 0.3), 1 of which are negatively correlated. The least correlated is Cohen & Steers Low Duration Preferred and Income Fund (LPXZX) (Preferred Stock/Convertible Bonds) with a 1Y correlation of -0.04, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cohen & Steers Low Duration Preferred and Income F... | -0.04 | 0.16 | 0.20 | 84 | Preferred Stock/Convertible Bonds | MLOZX vs LPXZX | |
| Cohen & Steers Preferred Securities and Income SMA... | 0.03 | 0.19 | 0.23 | 87 | Preferred Stock/Convertible Bonds | MLOZX vs PISHX | |
| Cohen & Steers Preferred Securities and Income Fun... | 0.06 | 0.25 | 0.27 | 82 | Preferred Stock/Convertible Bonds | MLOZX vs CPXIX | |
| Mondrian Global Listed Infrastructure Fund | 0.22 | 0.39 | 0.51 | 68 | Energy Equities | MLOZX vs MGIFX | |
| Fidelity Flex 500 Index Fund | 0.28 | 0.41 | 0.51 | 70 | Large Cap Blend Equities | MLOZX vs FDFIX |
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