Looking to diversify beyond AVEFX? The mutual funds below have historically moved differently from AVEFX, 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 AVEFX
10 mutual funds have low correlation with AVEFX (below 0.3), 1 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of -0.02, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | -0.02 | 0.09 | 0.35 | 68 | Diversified Portfolio | AVEFX vs MHELX | |
| Virtus Diversified Income & Convertible Fund | 0.11 | 0.30 | 0.41 | 65 | Diversified Portfolio, Convertible Bonds | AVEFX vs ACV | |
| SEI Institutional Managed Trust Multi-Asset Inflat... | 0.13 | 0.30 | 0.39 | 83 | Diversified Portfolio | AVEFX vs SIFAX | |
| Federated Hermes Capital Income Fund | 0.17 | 0.44 | 0.62 | 72 | Diversified Portfolio | AVEFX vs CAPAX | |
| AB Emerging Markets Multi-Asset Portfolio | 0.18 | 0.32 | 0.42 | 65 | Diversified Portfolio | AVEFX vs ABIEX |
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