Looking to diversify beyond EISMX? The mutual funds below have historically moved differently from EISMX, 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 EISMX
33 mutual funds have low correlation with EISMX (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 -0.03, down from 0.14 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 | -0.03 | 0.04 | 0.14 | 86 | Commodities | EISMX vs EIPCX | |
| Parametric Commodity Strategy Fund Class A | -0.02 | 0.04 | 0.14 | 85 | Commodities | EISMX vs EAPCX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.06 | 0.12 | 0.06 | 99 | Nontraditional Bonds | EISMX vs EIGMX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.07 | 0.16 | 0.08 | 98 | Multistrategy | EISMX vs EGRAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.10 | 0.16 | 0.08 | 98 | Nontraditional Bonds | EISMX vs EGRIX |
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