Looking to diversify beyond BLPFX? The mutual funds below have historically moved differently from BLPFX, 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 BLPFX
3 mutual funds have low correlation with BLPFX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.06, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.06 | 0.15 | 0.48 | 76 | Diversified Portfolio | BLPFX vs MHELX | |
| American High-Income Municipal Bond Fund Class F-3 | 0.29 | 0.26 | 0.22 | 92 | High Yield Muni | BLPFX vs HIMFX | |
| American High-Income Municipal Bond Fund Class F-2 | 0.29 | 0.26 | 0.22 | 92 | High Yield Muni | BLPFX vs AHMFX | |
| Capital Group California Short-Term Municipal Fund | 0.32 | 0.24 | 0.17 | 70 | Municipal Bonds | BLPFX vs CCSTX | |
| Capital Group California Core Municipal Fund | 0.34 | 0.27 | 0.21 | 56 | Municipal Bonds | BLPFX vs CCCMX |
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