Looking to diversify beyond BOE? The mutual funds below have historically moved differently from BOE, 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 BOE
2 mutual funds have low correlation with BOE (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Global Equity Market Neutral Fund Investor A (BDMAX) (Equity Market Neutral) with a 1Y correlation of 0.23, up from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Equity Market Neutral Fund Invest... | 0.23 | 0.14 | 0.09 | 97 | Equity Market Neutral | BOE vs BDMAX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.24 | 0.14 | 0.09 | 97 | Equity Market Neutral | BOE vs BDMIX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.35 | 0.23 | 0.08 | 66 | Systematic Trend | BOE vs ASFYX | |
| Cullen Enhanced Equity Income Fund | 0.39 | 0.48 | 0.60 | 52 | Derivative Income | BOE vs ENHNX | |
| Blackrock Resources & Commodities Strategy Trust | 0.40 | 0.47 | 0.48 | 62 | Natural Resources | BOE vs BCX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BOE, 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 BlackRock Capital Allocation Term Trust (BCAT) (Financial Services) with a 1Y correlation of 0.55, roughly unchanged from 0.58 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Capital Allocation Term Trust | 0.55 | 0.52 | 0.58 | 95 | Financial Services |
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