Looking to diversify beyond MLPFX? The mutual funds below have historically moved differently from MLPFX, 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 MLPFX
6 mutual funds have low correlation with MLPFX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) (Large Cap Blend Equities) with a 1Y correlation of 0.16, down from 0.53 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Equally-Weighted S&P 500 Fund Class A | 0.16 | 0.42 | 0.53 | 68 | Large Cap Blend Equities | MLPFX vs VADAX | |
| Invesco Equally-Weighted S&P 500 Fund | 0.17 | 0.42 | 0.53 | 69 | S&P 500 | MLPFX vs VADDX | |
| Invesco Equity and Income Fund | 0.22 | 0.44 | 0.57 | 74 | Diversified Portfolio | MLPFX vs ACEIX | |
| Invesco Value Opportunities Fund | 0.22 | 0.48 | 0.62 | 74 | Mid Cap Value Equities | MLPFX vs VVOAX | |
| Invesco Small Cap Value Fund | 0.23 | 0.46 | 0.61 | 76 | Small Cap Value Equities | MLPFX vs VSCAX |
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