Should I allude to my redundancy in my cover letter?

Title says it all really.

I was made redundant at the end of last year. I’m now searching for another job, however I was only at my last job for approx a year. I feel as if this might throw up some red flags, however if I address the fact that I was let go for reasons outside of my control and left on good terms etc, that it might negate that negative image?

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