Looking to diversify beyond MLPZX? The mutual funds below have historically moved differently from MLPZX, 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 MLPZX
11 mutual funds have low correlation with MLPZX (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 0.09, down from 0.53 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 | 0.09 | 0.34 | 0.53 | 53 | Energy Equities | MLPZX vs PSPFX | |
| Invesco Value Opportunities Fund | 0.14 | 0.42 | 0.58 | 74 | Mid Cap Value Equities | MLPZX vs VVOAX | |
| Invesco Equally-Weighted S&P 500 Fund Class A | 0.14 | 0.41 | 0.51 | 68 | Large Cap Blend Equities | MLPZX vs VADAX | |
| Invesco Equally-Weighted S&P 500 Fund | 0.14 | 0.41 | 0.51 | 69 | S&P 500 | MLPZX vs VADDX | |
| Invesco Small Cap Value Fund | 0.15 | 0.42 | 0.58 | 76 | Small Cap Value Equities | MLPZX vs VSCAX |
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