Looking to diversify beyond OAKMX? The mutual funds below have historically moved differently from OAKMX, 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 OAKMX
9 mutual funds have low correlation with OAKMX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.09, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.09 | 0.31 | 0.52 | 80 | Semiconductors, Technology Equities | OAKMX vs FSELX | |
| Fidelity Floating Rate High Income Fund | 0.15 | 0.27 | 0.33 | 95 | Bank Loan | OAKMX vs FFRHX | |
| American Century Intermediate-Term Tax-Free Bond F... | 0.17 | 0.13 | 0.09 | 66 | Municipal Bonds | OAKMX vs TWTIX | |
| Fidelity Select Tech Hardware Portfolio | 0.18 | 0.41 | 0.59 | 94 | Technology Equities | OAKMX vs FDCPX | |
| Fidelity Emerging Markets K | 0.22 | 0.38 | 0.53 | 51 | Emerging Markets Equities | OAKMX vs FKEMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for OAKMX, 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 Nuveen Quality Municipal Income Fund (NAD) (Financial Services) with a 1Y correlation of 0.11, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen Quality Municipal Income Fund | 0.11 | 0.23 | 0.24 | 78 | Financial Services | |
| BlackRock Science and Technology Term Trust | 0.13 | 0.39 | 0.55 | 87 | Financial Services | |
| Berkshire Hathaway Inc. | 0.36 | 0.55 | 0.65 | 61 | Financial Services | |
| Sirius XM Holdings Inc. | 0.39 | 0.43 | 0.46 | 82 | Communication Services | |
| Lithia Motors, Inc. | 0.53 | 0.60 | 0.60 | 70 | Consumer Cyclical |
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