Looking to diversify beyond EIFGX? The mutual funds below have the lowest correlation with EIFGX — 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 EIFGX.
Best Diversifiers for EIFGX
2 mutual funds have low correlation with EIFGX (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 0.11, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Massachusetts Municipal Income Fund | 0.11 | 0.09 | 0.09 | 69 | Municipal Bonds | EIFGX vs EIMAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.24 | 0.19 | 0.12 | 98 | Nontraditional Bonds | EIFGX vs EGRIX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.37 | 0.26 | 0.28 | 98 | Emerging Markets Bonds | EIFGX vs EELDX | |
| Eaton Vance Strategic Income Fund Class I | 0.37 | 0.22 | 0.20 | 92 | Multisector Bonds | EIFGX vs ESIIX | |
| Eaton Vance Multi-Asset Credit Fund | 0.40 | 0.35 | 0.39 | 86 | High Yield Bonds | EIFGX vs EIAMX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EIFGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EIFGX and solid risk/return profiles. The least correlated is Eni S.p.A. (E) (Energy) with a 1Y correlation of -0.06, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eni S.p.A. | -0.06 | 0.07 | 0.21 | 90 | Energy |
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