Looking to diversify beyond ABALX? The mutual funds below have historically moved differently from ABALX, 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 ABALX
13 mutual funds have low correlation with ABALX (below 0.3), 2 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.17, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.17 | -0.02 | 0.13 | 83 | Diversified Portfolio | ABALX vs SIFAX | |
| Fidelity Select Energy Portfolio | -0.06 | 0.21 | 0.35 | 87 | Energy Equities | ABALX vs FSENX | |
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.14 | 0.46 | 68 | Diversified Portfolio | ABALX vs MHELX | |
| Putnam Ultra Short Duration Income Fund | 0.10 | 0.12 | 0.10 | 99 | Ultrashort Bond | ABALX vs PSDYX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.17 | 0.22 | 0.28 | 91 | Inflation-Protected Bonds | ABALX vs VTAPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ABALX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.23, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.23 | 0.01 | 0.14 | 66 | Consumer Defensive | |
| Chevron Corporation | -0.21 | 0.04 | 0.20 | 79 | Energy | |
| Occidental Petroleum Corporation | -0.21 | 0.05 | 0.21 | 68 | Energy | |
| The Coca-Cola Company | -0.21 | 0.04 | 0.22 | 87 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.20 | 0.02 | 0.18 | 85 | Energy |
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