Looking to diversify beyond ETGAX? The mutual funds below have historically moved differently from ETGAX, 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 ETGAX
14 mutual funds have low correlation with ETGAX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.04, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.04 | 0.13 | 0.20 | 88 | Municipal Bonds | ETGAX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.02 | 0.16 | 0.23 | 91 | Municipal Bonds | ETGAX vs DMREX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.16 | 0.17 | 0.11 | 99 | Nontraditional Bonds | ETGAX vs EIGMX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.20 | 0.20 | 0.15 | 98 | Nontraditional Bonds | ETGAX vs EGRIX | |
| DFA Short Term Municipal Bond Portfolio | 0.22 | 0.26 | 0.35 | 100 | Municipal Bonds | ETGAX vs DFSMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ETGAX, 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 Delek Logistics Partners, LP (DKL) (Energy) with a 1Y correlation of -0.12, down from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Delek Logistics Partners, LP | -0.12 | 0.05 | 0.01 | 87 | Energy | |
| EZCORP, Inc. | 0.04 | 0.06 | 0.05 | 96 | Financial Services | |
| Clear Secure, Inc. | 0.04 | -0.01 | 0.03 | 87 | Technology | |
| Credo Technology Group Holding Ltd | 0.05 | 0.00 | — | 76 | Technology | |
| Philip Morris International Inc. | 0.06 | 0.14 | 0.09 | 63 | Consumer Defensive |
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