Looking to diversify beyond EICOX? The mutual funds below have historically moved differently from EICOX, 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 EICOX
6 mutual funds have low correlation with EICOX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.12, roughly unchanged from -0.05 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.12 | -0.05 | — | 54 | Long-Short | EICOX vs QAMNX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.21 | 0.50 | 0.58 | 56 | Foreign Large Cap Equities, Emerging Markets Equities | EICOX vs GSIYX | |
| Eaton Vance Massachusetts Municipal Income Fund | 0.22 | 0.11 | 0.13 | 78 | Municipal Bonds | EICOX vs EIMAX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.28 | 0.12 | 0.06 | 97 | Equity Market Neutral | EICOX vs BDMIX | |
| BlackRock Global Equity Market Neutral Fund | 0.28 | 0.12 | 0.06 | 97 | Equity Market Neutral | EICOX vs BDMAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EICOX, 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 Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.17, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.17 | -0.00 | 0.12 | 84 | Energy | |
| The TJX Companies, Inc. | -0.08 | 0.15 | 0.25 | 83 | Consumer Cyclical | |
| Merck & Co., Inc. | -0.04 | -0.03 | -0.00 | 96 | Healthcare | |
| Visa Inc. | -0.01 | 0.15 | 0.30 | 53 | Financial Services | |
| Amgen Inc. | 0.02 | 0.14 | 0.15 | 80 | Healthcare |
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