Looking to diversify beyond OIOIX? The mutual funds below have the lowest correlation with OIOIX — 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 OIOIX.
Best Diversifiers for OIOIX
4 mutual funds have low correlation with OIOIX (below 0.3), 0 of which are negatively correlated. The least correlated is Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) (Preferred Stock/Convertible Bonds) with a 1Y correlation of 0.25, down from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cohen & Steers Preferred Securities and Income SMA... | 0.25 | 0.41 | 0.46 | 88 | Preferred Stock/Convertible Bonds | OIOIX vs PISHX | |
| Cohen & Steers Low Duration Preferred and Income F... | 0.26 | 0.43 | 0.45 | 85 | Preferred Stock/Convertible Bonds | OIOIX vs LPXZX | |
| Lord Abbett Convertible Fund Class F | 0.29 | 0.42 | 0.55 | 87 | Preferred Stock/Convertible Bonds | OIOIX vs LBFFX | |
| Principal Capital Securities Fund | 0.29 | 0.42 | 0.44 | 76 | Preferred Stock/Convertible Bonds | OIOIX vs PCSFX | |
| Nuveen Preferred Securities & Income Fund | 0.30 | 0.49 | 0.52 | 79 | Preferred Stock/Convertible Bonds | OIOIX vs NPSRX |
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