Looking to diversify beyond ASILX? The mutual funds below have historically moved differently from ASILX, 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 ASILX
6 mutual funds have low correlation with ASILX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.10, down from 0.04 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.10 | 0.04 | — | 54 | Long-Short | ASILX vs QAMNX | |
| Vanguard Market Neutral Fund Institutional Shares | 0.01 | 0.01 | 0.04 | 97 | Long-Short | ASILX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | 0.03 | 0.02 | 0.04 | 97 | Long-Short | ASILX vs VMNFX | |
| Knights of Columbus Long/Short Equity Fund | 0.03 | 0.32 | 0.31 | 96 | Long-Short | ASILX vs KCEIX | |
| AB Municipal Income Shares | 0.24 | 0.14 | 0.11 | 81 | High Yield Muni | ASILX vs MISHX |
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