Looking to diversify beyond EMO? The mutual funds below have historically moved differently from EMO, 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 EMO
113 mutual funds have low correlation with EMO (below 0.3), 91 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 -0.21, down from -0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin California Intermediate-Term Tax-Free Inc... | -0.21 | 0.00 | -0.00 | 67 | Municipal Bonds | EMO vs FKCIX | |
| Western Asset SMASh Series TF Fund | -0.20 | 0.02 | 0.01 | 88 | Municipal Bonds | EMO vs LSMSX | |
| Franklin Federal Intermediate-Term Tax-Free Income... | -0.18 | 0.02 | 0.02 | 70 | Municipal Bonds | EMO vs FKITX | |
| Franklin Louisiana Tax Free Income Fund | -0.18 | 0.01 | -0.00 | 85 | Municipal Bonds | EMO vs FKLAX | |
| Franklin Low Duration Total Return Fund | -0.18 | 0.03 | 0.07 | 82 | Short-Term Bond | EMO vs FLDAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EMO, 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 Nuveen Quality Municipal Income Fund (NAD) (Financial Services) with a 1Y correlation of -0.04, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen Quality Municipal Income Fund | -0.04 | 0.15 | 0.16 | 78 | Financial Services | |
| AGNC Investment Corp. | 0.00 | 0.22 | 0.32 | 79 | Real Estate | |
| Bank of America Corporation | 0.00 | 0.29 | 0.40 | 81 | Financial Services | |
| Trinity Capital Inc. | 0.00 | 0.22 | 0.27 | 84 | Financial Services | |
| Lincoln National Corporation | 0.01 | 0.26 | 0.40 | 65 | Financial Services |
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