Looking to diversify beyond ALZFX? The mutual funds below have historically moved differently from ALZFX, 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 ALZFX
0 mutual funds have low correlation with ALZFX (below 0.3), 0 of which are negatively correlated. The least correlated is Provident Trust Strategy Fund (PROVX) (Large Cap Growth Equities) with a 1Y correlation of 0.37, down from 0.70 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Provident Trust Strategy Fund | 0.37 | 0.54 | 0.70 | 51 | Large Cap Growth Equities | ALZFX vs PROVX | |
| AQR Long-Short Equity Fund | 0.44 | 0.45 | 0.26 | 77 | Long-Short | ALZFX vs QLEIX | |
| Davis New York Venture Fund Class Y | 0.54 | 0.62 | 0.72 | 91 | Large Cap Growth Equities | ALZFX vs DNVYX | |
| ICON Equity Fund | 0.60 | 0.54 | 0.67 | 79 | Large Cap Growth Equities | ALZFX vs IOLZX | |
| Vanguard Developed Markets Index Fund Admiral Shar... | 0.63 | 0.58 | 0.67 | 74 | Foreign Large Cap Equities | ALZFX vs VTMGX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ALZFX, 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 Caterpillar Inc. (CAT) (Industrials) with a 1Y correlation of 0.51, roughly unchanged from 0.47 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Caterpillar Inc. | 0.51 | 0.48 | 0.47 | 93 | Industrials | |
| GE Vernova Inc. | 0.58 | 0.60 | 0.60 | 77 | Industrials |
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