Looking to diversify beyond BOE? The mutual funds below have the lowest correlation with BOE — 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 BOE.
Best Diversifiers for BOE
1 mutual funds have low correlation with BOE (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Global Long/Short Equity Fund Class I (BDMIX) (Long-Short) with a 1Y correlation of 0.22, up from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Long/Short Equity Fund Class I | 0.22 | 0.13 | 0.09 | 92 | Long-Short | BOE vs BDMIX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.38 | 0.23 | 0.09 | 67 | Systematic Trend | BOE vs ASFYX | |
| The Covered Bridge Fund | 0.53 | 0.54 | 0.63 | 82 | Derivative Income | BOE vs TCBIX | |
| BlackRock Enhanced Large Cap Core Fund | 0.59 | 0.64 | 0.72 | 85 | Derivative Income | BOE vs CII | |
| WisdomTree Equity Premium Income Fund | 0.63 | 0.64 | 0.65 | 55 | Derivative Income, S&P 500 | BOE vs PUTW |
See all 14 diversifiers for BOE
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