Looking to diversify beyond EDD? The mutual funds below have historically moved differently from EDD, 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 EDD
3 mutual funds have low correlation with EDD (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) (Ultrashort Bond) with a 1Y correlation of 0.09, up from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed... | 0.09 | -0.00 | -0.05 | 97 | Ultrashort Bond | EDD vs TSDUX | |
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.10 | 0.05 | 0.04 | 100 | Ultrashort Bond | EDD vs MUIIX | |
| Morgan Stanley China A Share Fund | 0.26 | 0.23 | 0.24 | 73 | China Equities, Asia Pacific Equities | EDD vs CAF | |
| Morgan Stanley Pathway Funds Municipal Bond Fund | 0.33 | 0.22 | 0.19 | 55 | Municipal Bonds | EDD vs TMUUX | |
| American Beacon Frontier Markets Income Fund | 0.34 | 0.31 | 0.33 | 98 | Emerging Markets Bonds | EDD vs AGEPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EDD, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Global-e Online Ltd. (GLBE) (Consumer Cyclical) with a 1Y correlation of 0.07, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Global-e Online Ltd. | 0.07 | 0.15 | 0.22 | 62 | Consumer Cyclical | |
| Strategy Inc Variable Rate Series A Perpetual Stre... | 0.11 | 0.11 | 0.11 | 62 | Technology | |
| Eli Lilly and Company | 0.12 | 0.14 | 0.11 | 79 | Healthcare | |
| TG Therapeutics, Inc. | 0.13 | 0.15 | 0.22 | 66 | Healthcare | |
| NVIDIA Corporation | 0.15 | 0.15 | 0.25 | 61 | Technology |
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