Looking to diversify beyond MLPAX? The mutual funds below have the lowest correlation with MLPAX — 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 MLPAX.
Best Diversifiers for MLPAX
5 mutual funds have low correlation with MLPAX (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco Nasdaq 100 Index Fund (IVNQX) (Large Cap Growth Equities) with a 1Y correlation of -0.07, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Nasdaq 100 Index Fund | -0.07 | 0.19 | 0.29 | 70 | Large Cap Growth Equities | MLPAX vs IVNQX | |
| Invesco Equity and Income Fund | 0.17 | 0.45 | 0.57 | 61 | Diversified Portfolio | MLPAX vs ACEIX | |
| Invesco Value Opportunities Fund | 0.18 | 0.47 | 0.61 | 81 | Mid Cap Value Equities | MLPAX vs VVOAX | |
| Invesco Small Cap Value Fund | 0.19 | 0.46 | 0.61 | 87 | Small Cap Value Equities | MLPAX vs VSCAX | |
| Invesco Comstock Fund | 0.23 | 0.46 | 0.61 | 60 | Large Cap Value Equities | MLPAX vs ACSTX |
See all 6 diversifiers for MLPAX
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