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 0.17, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Massachusetts Municipal Income Fund | 0.17 | 0.10 | 0.10 | 71 | Municipal Bonds | EOI vs EIMAX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.25 | 0.15 | 0.10 | 72 | Large Cap Blend Equities | EOI vs SVPFX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.26 | 0.21 | 0.13 | 98 | Nontraditional Bonds | EOI vs EGRIX | |
| Nuveen California Quality Municipal Income Fund | 0.37 | 0.31 | 0.27 | 73 | Municipal Bonds | EOI vs NAC | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.38 | 0.27 | 0.28 | 98 | Emerging Markets Bonds | EOI vs EELDX |
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