Looking to diversify beyond EDD? The mutual funds below have the lowest correlation with EDD — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from EDD.
Best Diversifiers for EDD
5 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 0.06, up from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed... | 0.06 | -0.02 | -0.06 | 98 | Ultrashort Bond | EDD vs TSDUX | |
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.10 | 0.05 | 0.04 | 100 | Ultrashort Bond | EDD vs MUIIX | |
| Ashmore Emerging Markets Corporate Income Fund | 0.13 | 0.19 | 0.22 | 61 | Emerging Markets Bonds | EDD vs EMCIX | |
| Morgan Stanley China A Share Fund | 0.24 | 0.22 | 0.23 | 89 | China Equities, Asia Pacific Equities | EDD vs CAF | |
| Virtus Stone Harbor Emerging Markets Income Fund | 0.30 | 0.33 | 0.35 | 57 | Emerging Markets Bonds | EDD vs EDF |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EDD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EDD and solid risk/return profiles. The least correlated is Vista Oil & Gas, S.A.B. de C.V. (VIST) (Energy) with a 1Y correlation of -0.20, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Vista Oil & Gas, S.A.B. de C.V. | -0.20 | 0.05 | 0.13 | 72 | Energy | |
| Global-e Online Ltd. | 0.07 | 0.16 | 0.22 | 57 | Consumer Cyclical | |
| NVIDIA Corporation | 0.10 | 0.15 | 0.24 | 65 | Technology | |
| TG Therapeutics, Inc. | 0.13 | 0.16 | 0.22 | 73 | Healthcare | |
| Shopify Inc. | 0.14 | 0.23 | 0.28 | 52 | Technology |
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Build a portfolio that complements EDD
Add EDD to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with EDD