Looking to diversify beyond BCOIX? The mutual funds below have historically moved differently from BCOIX, 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 BCOIX
4 mutual funds have low correlation with BCOIX (below 0.3), 0 of which are negatively correlated. The least correlated is Baird Ultra Short Bond Fund Institutional Class (BUBIX) (Ultrashort Bond) with a 1Y correlation of 0.14, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Baird Ultra Short Bond Fund Institutional Class | 0.14 | 0.25 | 0.28 | 99 | Ultrashort Bond | BCOIX vs BUBIX | |
| Baird Ultra Short Bond Fund | 0.23 | 0.25 | 0.31 | 100 | Ultrashort Bond | BCOIX vs BUBSX | |
| State Street S&P 500 Index Fund Class N | 0.27 | 0.23 | 0.18 | 75 | Large Cap Blend Equities | BCOIX vs SVSPX | |
| Vanguard Equity Income Fund Admiral Shares | 0.29 | 0.21 | 0.14 | 84 | Dividend, Large Cap Value Equities | BCOIX vs VEIRX | |
| DFA U.S. Targeted Value Portfolio Institutional Cl... | 0.30 | 0.22 | 0.13 | 84 | Small Cap Value Equities | BCOIX vs DFFVX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BCOIX, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.06, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.06 | 0.04 | 0.07 | 56 | Technology |
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