Looking to diversify beyond BIVIX? The mutual funds below have historically moved differently from BIVIX, 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 BIVIX
18 mutual funds have low correlation with BIVIX (below 0.3), 12 of which are negatively correlated. The least correlated is Multi-Manager Directional Alternative Strategies Fund (CDAZX) (Long-Short) with a 1Y correlation of -0.41, down from -0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Multi-Manager Directional Alternative Strategies F... | -0.41 | -0.32 | -0.08 | 85 | Long-Short | BIVIX vs CDAZX | |
| Gotham Absolute Return Fund | -0.41 | -0.38 | -0.18 | 89 | Long-Short | BIVIX vs GARIX | |
| Meeder Spectrum Fund | -0.37 | -0.26 | -0.15 | 71 | Long-Short | BIVIX vs FLSPX | |
| AB Select US Long/Short Portfolio | -0.34 | -0.29 | -0.13 | 71 | Long-Short | BIVIX vs ASILX | |
| Persimmon Long/Short Fund | -0.30 | -0.24 | -0.12 | 87 | Long-Short | BIVIX vs LSEIX |
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