Looking to diversify beyond EOI? The mutual funds below have the lowest correlation with EOI — 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 EOI.
Best Diversifiers for EOI
3 mutual funds have low correlation with EOI (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Massachusetts Municipal Income Fund (EIMAX) (Municipal Bonds) with a 1Y correlation of 0.21, up from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Massachusetts Municipal Income Fund | 0.21 | 0.10 | 0.11 | 76 | Municipal Bonds | EOI vs EIMAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.26 | 0.23 | 0.13 | 98 | Nontraditional Bonds | EOI vs EGRIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.26 | 0.15 | 0.10 | 95 | Large Cap Blend Equities | EOI vs SVPFX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.35 | 0.27 | 0.28 | 98 | Emerging Markets Bonds | EOI vs EELDX | |
| Nuveen California Quality Municipal Income Fund | 0.37 | 0.32 | 0.27 | 83 | Municipal Bonds | EOI vs NAC |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EOI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EOI and solid risk/return profiles. The least correlated is Nuveen Quality Municipal Income Fund (NAD) (Financial Services) with a 1Y correlation of 0.34, roughly unchanged from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen Quality Municipal Income Fund | 0.34 | 0.30 | 0.30 | 78 | Financial Services | |
| Abrdn Total Dynamic Dividend Fund | 0.70 | 0.64 | 0.68 | 87 | Financial Services |
Build a portfolio that complements EOI
Add EOI to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with EOI