Looking to diversify beyond OIEJX? The mutual funds below have historically moved differently from OIEJX, 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 OIEJX
11 mutual funds have low correlation with OIEJX (below 0.3), 2 of which are negatively correlated. The least correlated is PIMCO CommoditiesPLUS Strategy Fund (PCLIX) (Commodities) with a 1Y correlation of -0.08, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO CommoditiesPLUS Strategy Fund | -0.08 | 0.02 | 0.17 | 70 | Commodities | OIEJX vs PCLIX | |
| JPMorgan Ultra-Short Municipal Fund | -0.02 | 0.01 | -0.03 | 98 | Municipal Bonds | OIEJX vs USMTX | |
| JPMorgan Ultra-Short Municipal Fund | 0.09 | 0.06 | 0.05 | 98 | Municipal Bonds | OIEJX vs USMSX | |
| JPMorgan Tax Aware Real Return Fund | 0.16 | 0.13 | 0.18 | 58 | Municipal Bonds | OIEJX vs TXRIX | |
| JPMorgan Strategic Income Opportunities Fund Class... | 0.16 | -0.06 | -0.09 | 99 | Total Bond Market | OIEJX vs JSOSX |
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