Looking to diversify beyond EALCX? The mutual funds below have historically moved differently from EALCX, 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 EALCX
3 mutual funds have low correlation with EALCX (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Massachusetts Municipal Income Fund (EIMAX) (Municipal Bonds) with a 1Y correlation of 0.14, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Massachusetts Municipal Income Fund | 0.14 | 0.09 | 0.10 | 78 | Municipal Bonds | EALCX vs EIMAX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.18 | 0.17 | 0.09 | 99 | Nontraditional Bonds | EALCX vs EIGMX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.26 | 0.19 | 0.11 | 98 | Nontraditional Bonds | EALCX vs EGRIX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.36 | 0.25 | 0.27 | 98 | Emerging Markets Bonds | EALCX vs EELDX | |
| Eaton Vance Strategic Income Fund Class I | 0.38 | 0.20 | 0.20 | 94 | Multisector Bonds | EALCX vs ESIIX |
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