Looking to diversify beyond OPPAX? The mutual funds below have the lowest correlation with OPPAX — 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 OPPAX.
Best Diversifiers for OPPAX
20 mutual funds have low correlation with OPPAX (below 0.3), 7 of which are negatively correlated. The least correlated is Invesco Energy Fund (FSTEX) (Energy Equities) with a 1Y correlation of -0.14, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Energy Fund | -0.14 | 0.08 | 0.22 | 71 | Energy Equities | OPPAX vs FSTEX | |
| Invesco Balanced-Risk Commodity Strategy Fund | -0.10 | 0.07 | 0.14 | 88 | Commodities | OPPAX vs BRCYX | |
| Invesco Balanced-Risk Commodity Strategy Fund Clas... | -0.09 | 0.07 | 0.13 | 87 | Commodities | OPPAX vs BRCAX | |
| Invesco SteelPath MLP Select 40 Fund | -0.03 | 0.23 | 0.33 | 58 | Energy Equities | OPPAX vs MLPTX | |
| Invesco SteelPath MLP Income Fund Class A | -0.02 | 0.21 | 0.32 | 56 | MLPs | OPPAX vs MLPDX |
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