Looking to diversify beyond ESIIX? The mutual funds below have historically moved differently from ESIIX, 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 ESIIX
7 mutual funds have low correlation with ESIIX (below 0.3), 2 of which are negatively correlated. The least correlated is Parametric Commodity Strategy Fund Class A (EAPCX) (Commodities) with a 1Y correlation of -0.08, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Parametric Commodity Strategy Fund Class A | -0.08 | 0.00 | 0.08 | 84 | Commodities | ESIIX vs EAPCX | |
| Parametric Commodity Strategy Fund Class I | -0.05 | 0.01 | 0.09 | 85 | Commodities | ESIIX vs EIPCX | |
| Eaton Vance Floating Rate Fund | 0.14 | 0.15 | 0.25 | 51 | Bank Loan | ESIIX vs EIBLX | |
| Nationwide Strategic Income A | 0.17 | 0.26 | 0.30 | 99 | Multisector Bonds | ESIIX vs NWXEX | |
| CrossingBridge Low Duration High Yield Fund | 0.18 | 0.19 | 0.19 | 96 | Multisector Bonds | ESIIX vs CBLDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ESIIX, 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 Ellington Financial Inc. (EFC) (Real Estate) with a 1Y correlation of 0.40, up from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ellington Financial Inc. | 0.40 | 0.33 | 0.25 | 71 | Real Estate |
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