Looking to diversify beyond EIRAX? The mutual funds below have historically moved differently from EIRAX, 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 EIRAX
24 mutual funds have low correlation with EIRAX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) (Tactical Allocation) with a 1Y correlation of 0.00, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund Institutiona... | 0.00 | 0.18 | 0.10 | 85 | Tactical Allocation | EIRAX vs PBAIX | |
| Parametric Commodity Strategy Fund Class A | 0.13 | 0.16 | 0.20 | 84 | Commodities | EIRAX vs EAPCX | |
| Parametric Commodity Strategy Fund Class I | 0.14 | 0.17 | 0.21 | 85 | Commodities | EIRAX vs EIPCX | |
| Eaton Vance National Ultra-Short Municipal Income ... | 0.18 | 0.09 | 0.10 | 97 | Municipal Bonds | EIRAX vs EXFLX | |
| Eaton Vance Short Duration Inflation-Protected Inc... | 0.22 | 0.32 | 0.36 | 56 | Inflation-Protected Bonds | EIRAX vs EARRX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EIRAX, 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 0.05, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eni S.p.A. | 0.05 | 0.19 | 0.28 | 94 | Energy |
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