Looking to diversify beyond MLPDX? The mutual funds below have the lowest correlation with MLPDX — 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 MLPDX.
Best Diversifiers for MLPDX
5 mutual funds have low correlation with MLPDX (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 -0.03, 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 | -0.03 | 0.19 | 0.29 | 70 | Large Cap Growth Equities | MLPDX vs IVNQX | |
| Invesco Equity and Income Fund | 0.19 | 0.44 | 0.56 | 61 | Diversified Portfolio | MLPDX vs ACEIX | |
| Invesco Value Opportunities Fund | 0.21 | 0.46 | 0.60 | 81 | Mid Cap Value Equities | MLPDX vs VVOAX | |
| Invesco Small Cap Value Fund | 0.21 | 0.45 | 0.60 | 87 | Small Cap Value Equities | MLPDX vs VSCAX | |
| Invesco Comstock Fund | 0.26 | 0.47 | 0.60 | 60 | Large Cap Value Equities | MLPDX vs ACSTX |
See all 6 diversifiers for MLPDX
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