Looking to diversify beyond EICOX? The mutual funds below have the lowest correlation with EICOX — 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 EICOX.
Best Diversifiers for EICOX
3 mutual funds have low correlation with EICOX (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 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Massachusetts Municipal Income Fund | 0.14 | 0.11 | 0.11 | 71 | Municipal Bonds | EICOX vs EIMAX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.19 | 0.09 | 0.04 | 95 | Long-Short | EICOX vs BDMIX | |
| BlackRock Global Equity Market Neutral Fund | 0.20 | 0.09 | 0.04 | 95 | Equity Market Neutral | EICOX vs BDMAX | |
| Eaton Vance Strategic Income Fund Class I | 0.42 | 0.28 | 0.29 | 93 | Multisector Bonds | EICOX vs ESIIX | |
| Boston Partners Long/Short Equity Fund | 0.45 | 0.52 | 0.52 | 94 | Long-Short | EICOX vs BPLEX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EICOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EICOX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.12, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.12 | 0.01 | 0.14 | 68 | Energy | |
| The TJX Companies, Inc. | -0.01 | 0.19 | 0.28 | 87 | Consumer Cyclical | |
| Merck & Co., Inc. | 0.02 | -0.01 | 0.01 | 88 | Healthcare | |
| Amgen Inc. | 0.10 | 0.16 | 0.16 | 66 | Healthcare | |
| American Express Company | 0.25 | 0.33 | 0.42 | 56 | Financial Services |
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Build a portfolio that complements EICOX
Add EICOX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with EICOX