YES! The additional weight in the uphill tire is as far outboard as you can get w/o modifications and the Center of Mass is below the axle centerline, this helps tremendously in roll stability while operating on side hills.
I think it is important to keep our thoughts on either Ballast -or- counterweight, they are NOT the same thing!
Ballast = in tire or wheel weights that DO NOT add even an ounce of load to the tractor's axle(s) or tires.
Counterweight = hang-on weight that increases the load on the tires and axle(s).
You can add as much ballast as will fit to 75% tire volume or as much weight as you can put on the rims w/o any problem.
You should never add more counterweight than tractor axle capacity will allow with the loads placed on the tractor.
I agree with everything. But there is additional information...
Traction, tire wear, equipment reliability, wheel slip and maximum pulling performance have been studied VERY in-depth. Our jawing will get out many of the points, but there is actually a "best" amount of tire slip at max pull. It's something like 5-7%. If you over ballast and reduce slippage to zero, the risk of breaking something "expensive" in the tractor goes up A LOT. If you are under weighted or the weight is in the wrong locations the tires will slip more and wear unacceptably fast. But again, they are trying to get maximum productivity at the minimum cost factoring in repairs, downtime, etc etc. We are not as sensitive to the down time losses and don't typically need to run on the ragged edge of perfection.
Plus the location of the ballast is changed by the task at hand as others have stated. Some examples of how it changes are;
Max draw bar pulling -- will need more weight on the front to keep the front from lifting.
Max FEL work -- move that weight behind the rear axle.
Max BH work -- move the weight out board of the rear wheels to improve tipping stability while swinging the full bucket and to provide more down force to dig.
For "general utility use" with FEL or draw bar /3pt implement that we do, having 1.5-2x the FEL max lift in wheel fill, wheel weight and 3pt counter balance is the general optimum. About .75x to 1x that as counter weight to keep the weight off the front end. So if you can FEL lift 1000# put 750-1000# on the 3pt and 500-1000# in/on the wheels.
For example our little kubota has 420-70x24 industrial tires. Filled they add about 425-450 pounds per tire or 900-ish total. That's about 90% of the loader lift capacity. Toss on a 800# 3pt implement and it's at 1.75 x the FEL lift. A few times more weight would be appreciated, a few times less. So it's about right.
The above is more jawing, but it hopefully adds a bit to the discussion.