Looking to diversify beyond AEDNX? The mutual funds below have historically moved differently from AEDNX, 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 AEDNX
3 mutual funds have low correlation with AEDNX (below 0.3), 0 of which are negatively correlated. The least correlated is Camelot Event Driven Fund Class A (EVDAX) (Event Driven) with a 1Y correlation of 0.24, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Camelot Event Driven Fund Class A | 0.24 | 0.28 | 0.44 | 52 | Event Driven | AEDNX vs EVDAX | |
| Camelot Event-Driven Fund Institutional Class | 0.24 | 0.28 | 0.44 | 54 | Event Driven | AEDNX vs EVDIX | |
| Vivaldi Merger Arbitrage Fund Class I | 0.28 | 0.24 | 0.31 | 99 | Event Driven | AEDNX vs VARBX | |
| NexPoint Merger Arbitrage Fund | 0.37 | 0.43 | 0.44 | 99 | Event Driven | AEDNX vs HMEZX | |
| The Merger Fund Class I | 0.38 | 0.59 | 0.65 | 97 | Event Driven | AEDNX vs MERIX |
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