Looking to diversify beyond ALARX? The mutual funds below have historically moved differently from ALARX, 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 ALARX
2 mutual funds have low correlation with ALARX (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco Energy Fund (FSTEX) (Energy Equities) with a 1Y correlation of -0.15, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Energy Fund | -0.15 | 0.02 | 0.17 | 74 | Energy Equities | ALARX vs FSTEX | |
| BlackRock Health Sciences Opportunities Portfolio | 0.10 | 0.28 | 0.45 | 63 | Health & Biotech Equities | ALARX vs SHSAX | |
| Alger Health Sciences Fund | 0.35 | 0.44 | 0.57 | 96 | Health & Biotech Equities | ALARX vs AHSAX | |
| Provident Trust Strategy Fund | 0.41 | 0.56 | 0.71 | 51 | Large Cap Growth Equities | ALARX vs PROVX | |
| BlackRock Equity Dividend Fund Investor A Shares | 0.43 | 0.41 | 0.54 | 88 | Dividend | ALARX vs MDDVX |
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