Looking to diversify beyond OLGAX? The mutual funds below have historically moved differently from OLGAX, 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 OLGAX
16 mutual funds have low correlation with OLGAX (below 0.3), 0 of which are negatively correlated. The least correlated is JPMorgan Ultra-Short Municipal Fund (USMTX) (Municipal Bonds) with a 1Y correlation of 0.12, up from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Ultra-Short Municipal Fund | 0.12 | 0.01 | 0.00 | 98 | Municipal Bonds | OLGAX vs USMTX | |
| JPMorgan Short Duration Bond A | 0.13 | 0.05 | 0.10 | 71 | Short-Term Bond | OLGAX vs OGLVX | |
| JPMorgan Strategic Income Opportunities Fund Class... | 0.13 | -0.04 | -0.11 | 99 | Total Bond Market | OLGAX vs JSOSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.13 | 0.07 | 0.06 | 98 | Municipal Bonds | OLGAX vs USMSX | |
| JPMorgan Short Duration Bond Fund Class C | 0.14 | 0.07 | 0.09 | 59 | Short-Term Bond | OLGAX vs OSTCX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for OLGAX, 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 MetLife, Inc. (MET) (Financial Services) with a 1Y correlation of 0.15, down from 0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| MetLife, Inc. | 0.15 | 0.25 | 0.38 | 78 | Financial Services | |
| JPMorgan Chase & Co. | 0.32 | 0.36 | 0.46 | 71 | Financial Services |
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