Looking to diversify beyond BALPX? The mutual funds below have historically moved differently from BALPX, 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 BALPX
5 mutual funds have low correlation with BALPX (below 0.3), 0 of which are negatively correlated. The least correlated is Virtus AlphaSimplex Managed Futures Strategy Fund Class I (ASFYX) (Systematic Trend) with a 1Y correlation of 0.22, up from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.22 | 0.15 | 0.03 | 66 | Systematic Trend | BALPX vs ASFYX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.24 | 0.10 | 0.04 | 97 | Equity Market Neutral | BALPX vs BDMIX | |
| BlackRock Global Equity Market Neutral Fund Invest... | 0.24 | 0.10 | 0.04 | 97 | Equity Market Neutral | BALPX vs BDMAX | |
| Vivaldi Merger Arbitrage Fund Class I | 0.25 | 0.24 | 0.29 | 99 | Event Driven | BALPX vs VARBX | |
| BlackRock Strategic Income Opportunities Fund Clas... | 0.29 | 0.29 | 0.30 | 64 | Total Bond Market | BALPX vs BSIIX |
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