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Fund Spy

5 Medalist Funds That Have Been Negatively Correlated With the Market

Using the new Morningstar Style Box for alternative funds, we look at funds that have moved the opposite way from global equities over the last three years.

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We recently introduced the Morningstar Style Box for alternative funds, a new research framework for evaluating liquid alternatives investments. It is available to Morningstar Direct clients at the end of October and will be on Morningstar.com in early 2018.

We first introduced this style box last year in an article that showed how its main components of correlation and volatility can help investors quickly and intuitively gauge a fund's diversification potential. Alternative strategies come in many varieties, and funds within the same Morningstar Category that pursue very similar strategies can still have very different diversification characteristics.

Jason Kephart does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.