Looking to diversify beyond EIDOX? The mutual funds below have historically moved differently from EIDOX, 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 EIDOX
5 mutual funds have low correlation with EIDOX (below 0.3), 0 of which are negatively correlated. The least correlated is Parametric Commodity Strategy Fund Class I (EIPCX) (Commodities) with a 1Y correlation of 0.10, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Parametric Commodity Strategy Fund Class I | 0.10 | 0.19 | 0.21 | 85 | Commodities | EIDOX vs EIPCX | |
| AQR Long-Short Equity Fund | 0.18 | 0.13 | 0.12 | 78 | Long-Short | EIDOX vs QLEIX | |
| Axonic Strategic Income Fund | 0.25 | 0.09 | 0.11 | 94 | Multisector Bonds | EIDOX vs AXSIX | |
| Eaton Vance Massachusetts Municipal Income Fund | 0.26 | 0.14 | 0.17 | 78 | Municipal Bonds | EIDOX vs EIMAX | |
| Fidelity Floating Rate High Income Fund | 0.27 | 0.23 | 0.33 | 95 | Bank Loan | EIDOX vs FFRHX |
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