Looking to diversify beyond EIMAX? The mutual funds below have historically moved differently from EIMAX, 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 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 I (EIPCX) (Commodities) with a 1Y correlation of -0.15, down from -0.01 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 | -0.15 | -0.08 | -0.01 | 85 | Commodities | EIMAX vs EIPCX | |
| Parametric Commodity Strategy Fund Class A | -0.15 | -0.08 | -0.01 | 84 | Commodities | EIMAX vs EAPCX | |
| DFA California Municipal Real Return Portfolio | 0.02 | 0.16 | 0.20 | 91 | Municipal Bonds | EIMAX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.04 | 0.20 | 0.22 | 94 | Municipal Bonds | EIMAX vs DMREX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.14 | 0.14 | 0.09 | 99 | Nontraditional Bonds | EIMAX vs EIGMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EIMAX, 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 Eni S.p.A. (E) (Energy) with a 1Y correlation of -0.17, down from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eni S.p.A. | -0.17 | -0.03 | -0.01 | 94 | Energy |
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