Looking to diversify beyond ETHSX? The mutual funds below have historically moved differently from ETHSX, 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 ETHSX
10 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 0.00, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Municipal Ultra Short Fund | 0.00 | 0.13 | 0.10 | 84 | Municipal Bonds | ETHSX vs FMUSX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.00 | 0.08 | 0.01 | 99 | Nontraditional Bonds | ETHSX vs EIGMX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.03 | 0.13 | 0.06 | 98 | Nontraditional Bonds | ETHSX vs EGRIX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.12 | 0.17 | 0.20 | 98 | Emerging Markets Bonds | ETHSX vs EELDX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.21 | 0.35 | 0.52 | 99 | ETHSX vs CMNIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ETHSX, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.04, down from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.04 | 0.13 | 0.29 | 59 | Technology | |
| BlackBerry Limited | 0.02 | 0.20 | 0.32 | 90 | Technology | |
| Amazon.com, Inc | 0.14 | 0.22 | 0.34 | 70 | Consumer Cyclical | |
| Apple Inc | 0.23 | 0.27 | 0.42 | 90 | Technology | |
| Johnson & Johnson | 0.53 | 0.49 | 0.53 | 95 | Healthcare |
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