Looking to diversify beyond MPLIX? The mutual funds below have historically moved differently from MPLIX, 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 MPLIX
0 mutual funds have low correlation with MPLIX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes International Strategic Value Dividend Fund (IVFIX) (Foreign Large Cap Equities) with a 1Y correlation of 0.36, down from 0.64 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes International Strategic Value Div... | 0.36 | 0.52 | 0.64 | 88 | Foreign Large Cap Equities | MPLIX vs IVFIX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.40 | 0.67 | 0.76 | 61 | Foreign Large Cap Equities | MPLIX vs GSIMX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.41 | 0.67 | 0.76 | 61 | Foreign Large Cap Equities | MPLIX vs GSINX | |
| GQG Partners International Quality Dividend Income... | 0.44 | 0.65 | 0.72 | 71 | Quality Factor, Foreign Large Cap Equities | MPLIX vs GQJPX | |
| Fidelity Advisor Canada Fund Class A | 0.54 | 0.67 | 0.74 | 59 | Foreign Large Cap Equities | MPLIX vs FACNX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MPLIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Capital Southwest Corporation (CSWC) (Financial Services) with a 1Y correlation of 0.37, roughly unchanged from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Capital Southwest Corporation | 0.37 | 0.38 | 0.42 | 68 | Financial Services |
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