Looking to diversify beyond ETHSX? The mutual funds below have the lowest correlation with ETHSX — 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 ETHSX.
Best Diversifiers for ETHSX
6 mutual funds have low correlation with ETHSX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Municipal Ultra Short Fund (FMUSX) (Municipal Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Municipal Ultra Short Fund | 0.05 | 0.14 | 0.11 | 94 | Municipal Bonds | ETHSX vs FMUSX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.07 | 0.14 | 0.07 | 98 | Nontraditional Bonds | ETHSX vs EGRIX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.13 | 0.17 | 0.20 | 98 | Emerging Markets Bonds | ETHSX vs EELDX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.15 | 0.36 | 0.53 | 98 | ETHSX vs CMNIX | ||
| Eaton Vance Massachusetts Municipal Income Fund | 0.19 | 0.19 | 0.17 | 70 | Municipal Bonds | ETHSX vs EIMAX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ETHSX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ETHSX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.03, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.03 | 0.16 | 0.31 | 72 | Technology | |
| BlackBerry Limited | 0.07 | 0.22 | 0.33 | 84 | Technology | |
| Amazon.com, Inc | 0.12 | 0.23 | 0.35 | 54 | Consumer Cyclical | |
| Apple Inc | 0.24 | 0.28 | 0.42 | 87 | Technology |
Build a portfolio that complements ETHSX
Add ETHSX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with ETHSX