Looking to diversify beyond ETOHX? The mutual funds below have historically moved differently from ETOHX, 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 ETOHX
12 mutual funds have low correlation with ETOHX (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Global Macro Absolute Return Fund (EIGMX) (Nontraditional Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Global Macro Absolute Return Fund | 0.09 | 0.14 | 0.10 | 99 | Nontraditional Bonds | ETOHX vs EIGMX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.14 | 0.18 | 0.15 | 98 | Nontraditional Bonds | ETOHX vs EGRIX | |
| Eaton Vance Large-Cap Value Fund | 0.15 | 0.13 | 0.08 | 87 | Large Cap Value Equities | ETOHX vs EHSTX | |
| DFA NY Municipal Bond Portfolio | 0.21 | 0.32 | 0.41 | 99 | Municipal Bonds | ETOHX vs DNYMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.22 | 0.32 | 0.37 | 98 | Municipal Bonds | ETOHX vs USMSX |
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