Looking to diversify beyond ETG? The mutual funds below have the lowest correlation with ETG — 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 ETG.
Best Diversifiers for ETG
39 mutual funds have low correlation with ETG (below 0.3), 0 of which are negatively correlated. The least correlated is Parametric Commodity Strategy Fund Class A (EAPCX) (Commodities) with a 1Y correlation of 0.09, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Parametric Commodity Strategy Fund Class A | 0.09 | 0.19 | 0.24 | 54 | Commodities | ETG vs EAPCX | |
| Parametric Commodity Strategy Fund Class I | 0.10 | 0.20 | 0.24 | 55 | Commodities | ETG vs EIPCX | |
| Eaton Vance Short Duration Inflation-Protected Inc... | 0.10 | 0.15 | 0.20 | 51 | Inflation-Protected Bonds | ETG vs EARRX | |
| Eaton Vance Short Duration Inflation-Protected Inc... | 0.13 | 0.17 | 0.20 | 60 | Inflation-Protected Bonds | ETG vs EIRRX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.17 | 0.21 | 0.11 | 99 | Nontraditional Bonds | ETG vs EIGMX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ETG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ETG and solid risk/return profiles. The least correlated is PepsiCo, Inc. (PEP) (Consumer Defensive) with a 1Y correlation of -0.05, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| PepsiCo, Inc. | -0.05 | 0.07 | 0.20 | 61 | Consumer Defensive | |
| Reaves Utility Income Trust | 0.36 | 0.40 | 0.47 | 79 | Financial Services | |
| Cohen & Steers Infrastructure Fund, Inc | 0.38 | 0.40 | 0.47 | 67 | Financial Services | |
| Royce Value Trust Inc. | 0.65 | 0.71 | 0.73 | 84 | Financial Services | |
| Eaton Vance Tax-Managed Global Buy-Write Opportuni... | 0.72 | 0.77 | 0.74 | 84 | Financial Services |
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