Looking to diversify beyond ENHNX? The mutual funds below have historically moved differently from ENHNX, 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 ENHNX
3 mutual funds have low correlation with ENHNX (below 0.3), 0 of which are negatively correlated. The least correlated is Cullen Emerging Markets High Dividend Fund (CEMFX) (Emerging Markets Equities) with a 1Y correlation of 0.11, down from 0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cullen Emerging Markets High Dividend Fund | 0.11 | 0.24 | 0.40 | 71 | Emerging Markets Equities | ENHNX vs CEMFX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.13 | 0.25 | 0.39 | 58 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | ENHNX vs QQQX | |
| Virtus Equity & Convertible Income Fund | 0.18 | 0.34 | 0.49 | 64 | Derivative Income, Convertible Bonds | ENHNX vs NIE | |
| Invesco Income Advantage U.S. Fund | 0.31 | 0.50 | 0.65 | 62 | Derivative Income | ENHNX vs SCAUX | |
| Shelton Equity Income Fund | 0.40 | 0.54 | 0.69 | 55 | Derivative Income | ENHNX vs EQTIX |
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