Looking to diversify beyond EOS? The mutual funds below have the lowest correlation with EOS — 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 EOS.
Best Diversifiers for EOS
3 mutual funds have low correlation with EOS (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 0.16, roughly unchanged 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 | 0.16 | 0.08 | 0.11 | 71 | Municipal Bonds | EOS vs EIMAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.21 | 0.20 | 0.13 | 98 | Nontraditional Bonds | EOS vs EGRIX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.29 | 0.24 | 0.27 | 98 | Emerging Markets Bonds | EOS vs EELDX | |
| The Covered Bridge Fund | 0.35 | 0.35 | 0.50 | 62 | Derivative Income | EOS vs TCBIX | |
| Eaton Vance Emerging Markets Local Income Fund | 0.37 | 0.30 | 0.33 | 58 | Emerging Markets Bonds | EOS vs EEIAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EOS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EOS and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.23, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.23 | -0.07 | 0.04 | 70 | Consumer Defensive | |
| Cohen & Steers Infrastructure Fund, Inc | 0.22 | 0.23 | 0.36 | 69 | Financial Services | |
| Equinix, Inc. | 0.24 | 0.35 | 0.42 | 71 | Real Estate | |
| Capital Southwest Corporation | 0.30 | 0.32 | 0.37 | 72 | Financial Services | |
| Tesla, Inc. | 0.47 | 0.49 | 0.51 | 59 | Consumer Cyclical |
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Build a portfolio that complements EOS
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