Looking to diversify beyond OMIFX? The mutual funds below have historically moved differently from OMIFX, 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 OMIFX
16 mutual funds have low correlation with OMIFX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.00, roughly unchanged from -0.07 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.00 | -0.07 | — | 54 | Long-Short | OMIFX vs QAMNX | |
| Federated Hermes Conservative Municipal Microshort... | 0.04 | 0.12 | 0.09 | 99 | Municipal Bonds | OMIFX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.05 | 0.10 | 0.09 | 99 | Municipal Bonds | OMIFX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | 0.11 | 0.14 | 0.15 | 100 | Municipal Bonds | OMIFX vs ATOIX | |
| Federated Hermes Strategic Value Dividend Fund | 0.15 | 0.20 | 0.14 | 94 | Large Cap Value Equities | OMIFX vs SVAIX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements OMIFX
Add OMIFX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with OMIFX