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Invesco Discovery Mid Cap Growth Fund (OEGYX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 11, 2026

The investment seeks capital appreciation. The fund mainly invests in common stocks of U.S. companies that the portfolio managers expect to have above-average growth rates. It seeks to invest in newer companies or in more established companies that are in the early growth phase of their business cycle, which is typically marked by above average growth rates. The fund will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of mid-cap issuers. The adviser defines mid-cap issuers as those issuers that are within the range of market capitalizations of the Russell Midcap Growth Index.

Looking to diversify beyond OEGYX? The mutual funds below have the lowest correlation with OEGYX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from OEGYX.

Best Diversifiers for OEGYX

2 mutual funds have low correlation with OEGYX (below 0.3), 0 of which are negatively correlated. The least correlated is Columbia Strategic Municipal Income Fund (INTAX) (Municipal Bonds) with a 1Y correlation of 0.15, roughly unchanged from 0.10 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
INTAX
Columbia Strategic Municipal Income Fund0.150.110.10
81
Municipal BondsOEGYX vs INTAX
SRHMX
Columbia High Yield Municipal Fund0.150.100.10
92
High Yield MuniOEGYX vs SRHMX
MEDIX
MFS Emerging Markets Debt Fund0.340.270.29
84
Emerging Markets BondsOEGYX vs MEDIX
BILPX
BlackRock Event Driven Equity Fund0.430.570.65
82
Event DrivenOEGYX vs BILPX
SGIIX
First Eagle Global Fund Class I0.530.620.69
54
Global EquitiesOEGYX vs SGIIX
See all 36 diversifiers for OEGYX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from OEGYX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OEGYX and solid risk/return profiles. The least correlated is AGNC Investment Corp. Series F Preferred Stock (AGNCP) (Real Estate) with a 1Y correlation of 0.21, roughly unchanged from 0.27 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
AGNCP
AGNC Investment Corp. Series F Preferred Stock0.210.170.27
92
Real Estate

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