Looking to diversify beyond MLPNX? The mutual funds below have historically moved differently from MLPNX, 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 MLPNX
11 mutual funds have low correlation with MLPNX (below 0.3), 0 of which are negatively correlated. The least correlated is U.S. Global Investors Global Resources Fund (PSPFX) (Energy Equities) with a 1Y correlation of 0.11, down from 0.54 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| U.S. Global Investors Global Resources Fund | 0.11 | 0.35 | 0.54 | 53 | Energy Equities | MLPNX vs PSPFX | |
| Invesco Equally-Weighted S&P 500 Fund | 0.12 | 0.39 | 0.51 | 66 | S&P 500 | MLPNX vs VADDX | |
| Invesco Equally-Weighted S&P 500 Fund Class A | 0.12 | 0.39 | 0.51 | 65 | Large Cap Blend Equities | MLPNX vs VADAX | |
| Invesco Value Opportunities Fund | 0.13 | 0.42 | 0.59 | 70 | Mid Cap Value Equities | MLPNX vs VVOAX | |
| Invesco Small Cap Value Fund | 0.13 | 0.41 | 0.58 | 76 | Small Cap Value Equities | MLPNX vs VSCAX |
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