Looking to diversify beyond EIMAX? The mutual funds below have the lowest correlation with EIMAX — 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 EIMAX.
Best Diversifiers for EIMAX
29 mutual funds have low correlation with EIMAX (below 0.3), 2 of which are negatively correlated. The least correlated is Parametric Commodity Strategy Fund Class A (EAPCX) (Commodities) with a 1Y correlation of -0.16, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Parametric Commodity Strategy Fund Class A | -0.16 | -0.06 | -0.01 | 55 | Commodities | EIMAX vs EAPCX | |
| Parametric Commodity Strategy Fund Class I | -0.15 | -0.05 | -0.01 | 57 | Commodities | EIMAX vs EIPCX | |
| DFA California Municipal Real Return Portfolio | 0.01 | 0.17 | 0.19 | 95 | Municipal Bonds | EIMAX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.05 | 0.20 | 0.21 | 94 | Municipal Bonds | EIMAX vs DMREX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.13 | 0.16 | 0.09 | 99 | Nontraditional Bonds | EIMAX vs EIGMX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EIMAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EIMAX and solid risk/return profiles. The least correlated is Eni S.p.A. (E) (Energy) with a 1Y correlation of -0.10, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eni S.p.A. | -0.10 | 0.00 | -0.01 | 91 | Energy |
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