Looking to diversify beyond ETB? The mutual funds below have historically moved differently from ETB, 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 ETB
3 mutual funds have low correlation with ETB (below 0.3), 0 of which are negatively correlated. The least correlated is Princeton Premium Fund (PPFIX) (Options Trading) with a 1Y correlation of 0.11, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Princeton Premium Fund | 0.11 | 0.14 | 0.13 | 100 | Options Trading | ETB vs PPFIX | |
| Eaton Vance Massachusetts Municipal Income Fund | 0.16 | 0.13 | 0.11 | 78 | Municipal Bonds | ETB vs EIMAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.27 | 0.22 | 0.09 | 98 | Nontraditional Bonds | ETB vs EGRIX | |
| Eaton Vance Strategic Income Fund Class I | 0.37 | 0.24 | 0.18 | 94 | Multisector Bonds | ETB vs ESIIX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.41 | 0.27 | 0.25 | 98 | Emerging Markets Bonds | ETB vs EELDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ETB, 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 PIMCO Dynamic Income Opportunities Fund (PDO) (Financial Services) with a 1Y correlation of 0.34, roughly unchanged from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| PIMCO Dynamic Income Opportunities Fund | 0.34 | 0.35 | 0.37 | 65 | Financial Services | |
| Eaton Vance Tax-Managed Global Buy-Write Opportuni... | 0.73 | 0.76 | 0.70 | 83 | Financial Services |
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