Looking to diversify beyond BDMAX? The mutual funds below have the lowest correlation with BDMAX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from BDMAX.
Best Diversifiers for BDMAX
20 mutual funds have low correlation with BDMAX (below 0.3), 6 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Miller Market Neutral Income Fund Class I | -0.16 | — | — | 99 | Equity Market Neutral | BDMAX vs MMNIX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | -0.06 | -0.02 | -0.02 | 97 | Emerging Markets Bonds | BDMAX vs EELDX | |
| North Square Preferred and Income Securities Fund | -0.05 | -0.01 | 0.04 | 72 | Large Cap Blend Equities | BDMAX vs ORDNX | |
| Angel Oak Multi-Strategy Income Fund | -0.02 | 0.00 | -0.01 | 94 | Multisector Bonds | BDMAX vs ANGLX | |
| Lord Abbett Short Duration Income Fund Class R6 | -0.01 | 0.01 | -0.01 | 72 | Short-Term Bond | BDMAX vs LDLVX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BDMAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BDMAX and solid risk/return profiles. The least correlated is First Solar, Inc. (FSLR) (Technology) with a 1Y correlation of 0.03, roughly unchanged from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| First Solar, Inc. | 0.03 | -0.01 | -0.06 | 81 | Technology | |
| Magna International Inc. | 0.10 | 0.07 | 0.02 | 91 | Consumer Cyclical | |
| Micron Technology, Inc. | 0.13 | 0.13 | 0.07 | 99 | Technology | |
| The Oncology Institute, Inc. | 0.17 | 0.04 | — | 55 | Healthcare | |
| Intel Corporation | 0.18 | 0.07 | 0.03 | 98 | Technology |
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