Looking to diversify beyond EMO? The mutual funds below have the lowest correlation with EMO — 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 EMO.
Best Diversifiers for EMO
103 mutual funds have low correlation with EMO (below 0.3), 84 of which are negatively correlated. The least correlated is Franklin California Intermediate-Term Tax-Free Income Fund (FKCIX) (Municipal Bonds) with a 1Y correlation of -0.18, down from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin California Intermediate-Term Tax-Free Inc... | -0.18 | 0.02 | -0.00 | 74 | Municipal Bonds | EMO vs FKCIX | |
| Franklin Minnesota Tax-Free Income Fund | -0.17 | 0.01 | 0.00 | 68 | Municipal Bonds | EMO vs FMINX | |
| Western Asset SMASh Series TF Fund | -0.17 | 0.03 | 0.01 | 85 | Municipal Bonds | EMO vs LSMSX | |
| Franklin Federal Intermediate-Term Tax-Free Income... | -0.16 | 0.04 | 0.02 | 75 | Municipal Bonds | EMO vs FKITX | |
| BrandywineGLOBAL - Global Unconstrained Bond Fund | -0.15 | 0.13 | 0.12 | 80 | Nontraditional Bonds | EMO vs LROIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EMO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EMO and solid risk/return profiles. The least correlated is Nuveen Quality Municipal Income Fund (NAD) (Financial Services) with a 1Y correlation of -0.02, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen Quality Municipal Income Fund | -0.02 | 0.16 | 0.16 | 79 | Financial Services | |
| Abrdn Total Dynamic Dividend Fund | -0.01 | 0.32 | 0.42 | 87 | Financial Services | |
| Lincoln National Corporation | -0.01 | 0.27 | 0.41 | 65 | Financial Services | |
| AGNC Investment Corp. | -0.00 | 0.25 | 0.35 | 83 | Real Estate | |
| Trinity Capital Inc. | 0.01 | 0.23 | 0.28 | 90 | Financial Services |
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Build a portfolio that complements EMO
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