It's not just the weight of the added material that you must take into consideration, it's the density of the material in comparison to the density of the displaced liquid.
I'll provide you with an experiment to try. Take a balloon and fill it with fresh water. Place the water-filled balloon into a container filled with the same fresh water. The balloon will generally float around at different levels in the container. This demonstrates neutral buoyancy because the water in the balloon and the water in the container are of equal density.
Now, add a good amount of salt to the water in the container and stir it up. What happens to the water-filled balloon? I can tell you, it will float to the top. This is because the density of salt water is higher than fresh water, demonstrating that fresh water is more buoyant than the salt water.
Adding positive buoyancy, your "Ballast Ring", to a neutrally buoyant coil will tend to make it want to float, not by much, but it will, scientifically.
I'd suggest that there may be other factors at play that cause the modification to seem to stabilize the coil. That's why I stated the following in my original reply to your thread:
hobbes_lives said:
Perhaps I'm missing something. Can someone please explain how this could possibly help with a coil buoyancy problem?
I'm happy if it works for you. I just don't understand why it would, or how it could. :?
Now, fill it with water (or epoxy) and sand, make it easy to add and remove (for swinging out of the water), and I'd say you've got a winner!