Looking to diversify beyond AVK? The mutual funds below have historically moved differently from AVK, 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 AVK
2 mutual funds have low correlation with AVK (below 0.3), 0 of which are negatively correlated. The least correlated is Lazard Enhanced Opportunities Portfolio Open Shares (LEOOX) (Convertible Bonds) with a 1Y correlation of 0.23, roughly unchanged from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lazard Enhanced Opportunities Portfolio Open Share... | 0.23 | 0.10 | 0.18 | 75 | Convertible Bonds | AVK vs LEOOX | |
| Guggenheim Limited Duration Fund | 0.24 | 0.23 | 0.25 | 94 | Short-Term Bond | AVK vs GILHX | |
| Guggenheim Managed Futures Strategy Fund | 0.35 | 0.22 | 0.11 | 56 | Systematic Trend | AVK vs RYMTX | |
| Guggenheim Macro Opportunities Fund | 0.44 | 0.42 | 0.43 | 79 | Nontraditional Bonds | AVK vs GIOIX | |
| Absolute Convertible Arbitrage Fund Institutional ... | 0.50 | 0.32 | 0.39 | 100 | Multistrategy, Convertible Bonds | AVK vs ARBIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AVK, 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 BlackRock Capital Allocation Term Trust (BCAT) (Financial Services) with a 1Y correlation of 0.55, roughly unchanged from 0.54 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Capital Allocation Term Trust | 0.55 | 0.51 | 0.54 | 95 | Financial Services |
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