The ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) may only be down by around 1.1% since the start of the year but a number of well-known companies have seen their share prices come under pressure.

In fact, a number of 2015’s top performers have become some of 2016’s worst performers and now trade at levels that would have been unthinkable just a few months ago.

While there is always the possibility of further falls, I think these three shares currently offer investors an attractive risk-reward proposition:

Blackmores Limited (ASX: BKL)

The share price performance of Blackmores since the start of 2016 is a classic example of what happens when a company with high expectations is hit with a speed hump created by uncertainty.

The shares have lost around 40% since the start of the year with investors becoming concerned that changes to Chinese import regulations could derail the vitamin maker’s growth ambitions.

Despite this uncertainty, Blackmores continues to post surprisingly strong growth and I think investors are underestimating how popular the brand has become in Asia. The shares now trade on a FY16 forecast price-to-earnings (P/E) ratio of around 22, which should be attractive for investors looking for exposure to one of the ASX’s fastest-growing companies.

Mantra Group Ltd (ASX: MTR)

Mantra was one of the best-performing stocks in 2015 but its shares have been under serious pressure since it announced a $71 million Hawaiian acquisition in May. The selling has accelerated over the past few days with the shares falling briefly below $3 per share – a decline of more than 43% from its 52-week high of $5.26.

The recent price movement has been intriguing because Mantra recently re-affirmed its full year profit forecasts and is tipped to be one of the big winners from Australia’s tourism boom.

It appears investors are now overly bearish on the prospects of the company and are worried that share accommodation provider, Airbnb, could reduce the company’s market share.

I believe the downside risk is now more than priced in and the shares are now attractively priced, trading on a P/E ratio of around 18.

Magellan Financial Group Ltd (ASX: MFG)

Some of the biggest losers from the Brexit result have been Australian fund managers with exposure to global equity markets.

Even though Magellan generates the bulk of its revenue outside of the UK and Europe, it is the flow-on effect into other markets that is having the biggest impact on the company’s share price.

The US markets have been volatile and it appears investors are now questioning whether a fund manager like Magellan will be able to continue to attract new fund inflows and generate the growth in performance and management fees it has in the past.

The shares dropped 4.5% yesterday and are now trading 26% below their 52-week high of $28.22.

While it is virtually impossible to accurately forecast the earnings of fund managers because markets can change so rapidly, I think this could be a good entry point for investors who are confident that markets will rebound in the short term.

If you are looking for more ideas on the best stocks to have in your portfolio, you might want to read this.

3 Rotten Shares to Sell, and 1 to Buy Today

After a double-digit rally for the ASX since 2016 lows, investors should be on high alert. You'll find a full rundown below of 3 shares we think you should avoid today plus one top pick worth buying, even if the market turns south and the RBA keeps rates at an "emergency low." Simply click here to uncover these stocks.

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Motley Fool contributor Christopher Georges owns shares of Blackmores Limited and MANTRA GRP FPO. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.