Looking to diversify beyond QLENX? The mutual funds below have the lowest correlation with QLENX — 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 QLENX.
Best Diversifiers for QLENX
45 mutual funds have low correlation with QLENX (below 0.3), 6 of which are negatively correlated. The least correlated is Pioneer Securitized Income Fund (SYFFX) (Nontraditional Bonds) with a 1Y correlation of -0.06, roughly unchanged from -0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer Securitized Income Fund | -0.06 | -0.11 | -0.10 | 75 | Nontraditional Bonds | QLENX vs SYFFX | |
| AQR Diversified Arbitrage Fund Class I | -0.04 | 0.06 | 0.03 | 99 | Multistrategy | QLENX vs ADAIX | |
| SEI Institutional Investments Trust Opportunistic ... | -0.03 | 0.01 | 0.04 | 100 | Ultrashort Bond | QLENX vs ENIAX | |
| Fidelity Select Energy Portfolio | -0.03 | 0.19 | 0.35 | 79 | Energy Equities | QLENX vs FSENX | |
| Vanguard Energy Fund Admiral Shares | -0.02 | 0.18 | 0.35 | 85 | Energy Equities | QLENX vs VGELX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from QLENX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to QLENX and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.16, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.16 | -0.09 | 0.01 | 53 | Utilities | |
| Enterprise Products Partners L.P. | -0.10 | 0.11 | 0.21 | 85 | Energy | |
| Exxon Mobil Corporation | -0.09 | 0.08 | 0.25 | 85 | Energy | |
| Chevron Corporation | -0.08 | 0.09 | 0.25 | 83 | Energy | |
| BP p.l.c. | -0.07 | 0.13 | 0.28 | 87 | Energy |
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