Looking to diversify beyond ODIIX? The mutual funds below have historically moved differently from ODIIX, 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 ODIIX
1 mutual funds have low correlation with ODIIX (below 0.3), 0 of which are negatively correlated. The least correlated is Janus Henderson Global Life Sciences Fund (JNGLX) (Health & Biotech Equities) with a 1Y correlation of 0.28, down from 0.61 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Janus Henderson Global Life Sciences Fund | 0.28 | 0.49 | 0.61 | 92 | Health & Biotech Equities | ODIIX vs JNGLX | |
| Dodge & Cox Stock Fund Class I | 0.34 | 0.57 | 0.68 | 56 | Large Cap Value Equities | ODIIX vs DODGX | |
| Vanguard Equity Income Fund Admiral Shares | 0.41 | 0.58 | 0.64 | 84 | Dividend, Large Cap Value Equities | ODIIX vs VEIRX | |
| Invesco Comstock Fund | 0.48 | 0.63 | 0.68 | 83 | Large Cap Value Equities | ODIIX vs ACSTX | |
| Invesco Equally-Weighted S&P 500 Fund | 0.52 | 0.70 | 0.78 | 69 | S&P 500 | ODIIX vs VADDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ODIIX, 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 United Parcel Service, Inc. (UPS) (Industrials) with a 1Y correlation of 0.25, down from 0.43 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| United Parcel Service, Inc. | 0.25 | 0.31 | 0.43 | 73 | Industrials |
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