Looking to diversify beyond LENIX? The mutual funds below have historically moved differently from LENIX, 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 LENIX
0 mutual funds have low correlation with LENIX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Global Equity Market Neutral Fund Class I (BDMIX) (Equity Market Neutral) with a 1Y correlation of 0.32, up from 0.11 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 Class ... | 0.32 | 0.17 | 0.11 | 98 | Equity Market Neutral | LENIX vs BDMIX | |
| BlackRock Global Equity Market Neutral Fund Invest... | 0.33 | 0.18 | 0.11 | 97 | Equity Market Neutral | LENIX vs BDMAX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.44 | 0.28 | 0.05 | 67 | Systematic Trend | LENIX vs ASFYX | |
| BlackRock Enhanced Equity Dividend Trust | 0.66 | 0.65 | 0.70 | 66 | Derivative Income | LENIX vs BDJ | |
| BlackRock Strategic Income Opportunities Fund Clas... | 0.66 | 0.55 | 0.52 | 52 | Total Bond Market | LENIX vs BSIIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for LENIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.59 | 0.64 | 0.72 | 89 |
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