Looking to diversify beyond SPMPX? The mutual funds below have historically moved differently from SPMPX, 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 SPMPX
10 mutual funds have low correlation with SPMPX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) (Large Cap Blend Equities) with a 1Y correlation of 0.12, down from 0.51 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Equally-Weighted S&P 500 Fund Class A | 0.12 | 0.39 | 0.51 | 68 | Large Cap Blend Equities | SPMPX vs VADAX | |
| Invesco Value Opportunities Fund | 0.12 | 0.41 | 0.58 | 74 | Mid Cap Value Equities | SPMPX vs VVOAX | |
| Invesco Small Cap Value Fund | 0.12 | 0.40 | 0.57 | 76 | Small Cap Value Equities | SPMPX vs VSCAX | |
| Invesco Equally-Weighted S&P 500 Fund | 0.12 | 0.39 | 0.51 | 69 | S&P 500 | SPMPX vs VADDX | |
| Invesco Equity and Income Fund | 0.15 | 0.39 | 0.54 | 74 | Diversified Portfolio | SPMPX vs ACEIX |
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