Looking to diversify beyond MLPIX? The mutual funds below have historically moved differently from MLPIX, 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 MLPIX
1 mutual funds have low correlation with MLPIX (below 0.3), 0 of which are negatively correlated. The least correlated is ProFunds UltraSector Oil & Gas Fund (ENPIX) (Leveraged Equities) with a 1Y correlation of 0.07, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraSector Oil & Gas Fund | 0.07 | 0.33 | 0.44 | 62 | Leveraged Equities | MLPIX vs ENPIX | |
| ProFunds Biotechnology UltraSector Fund | 0.38 | 0.56 | 0.56 | 93 | Leveraged Equities | MLPIX vs BIPIX | |
| ProFunds UltraJapan Fund | 0.48 | 0.51 | 0.57 | 86 | Leveraged Equities | MLPIX vs UJPIX | |
| Invesco Value Opportunities Fund Class Y | 0.73 | 0.80 | 0.86 | 70 | Mid Cap Value Equities | MLPIX vs VVOIX | |
| Invesco V.I. American Value Fund | 0.74 | 0.81 | 0.86 | 71 | Mid Cap Value Equities | MLPIX vs UMCVX |
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