Looking to diversify beyond ATESX? The mutual funds below have historically moved differently from ATESX, 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 ATESX
7 mutual funds have low correlation with ATESX (below 0.3), 2 of which are negatively correlated. The least correlated is Knights of Columbus Long/Short Equity Fund (KCEIX) (Long-Short) with a 1Y correlation of -0.13, down from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Knights of Columbus Long/Short Equity Fund | -0.13 | 0.05 | 0.04 | 96 | Long-Short | ATESX vs KCEIX | |
| Federated Hermes MDT Market Neutral A | -0.10 | -0.01 | — | 54 | Long-Short | ATESX vs QAMNX | |
| Vanguard Market Neutral Fund Institutional Shares | 0.06 | 0.00 | -0.02 | 97 | Long-Short | ATESX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | 0.07 | 0.00 | -0.02 | 97 | Long-Short | ATESX vs VMNFX | |
| Guggenheim Alpha Opportunity Fund | 0.18 | 0.07 | 0.13 | 83 | Long-Short | ATESX vs SAOAX |
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