Looking to diversify beyond ETY? The mutual funds below have historically moved differently from ETY, 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 ETY
36 mutual funds have low correlation with ETY (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 0.07, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Parametric Commodity Strategy Fund Class A | 0.07 | 0.12 | 0.16 | 85 | Commodities | ETY vs EAPCX | |
| Parametric Commodity Strategy Fund Class I | 0.09 | 0.12 | 0.17 | 86 | Commodities | ETY vs EIPCX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.12 | 0.18 | 0.07 | 99 | Nontraditional Bonds | ETY vs EIGMX | |
| Eaton Vance Virginia Municipal Income Fund | 0.14 | 0.13 | 0.14 | 82 | Municipal Bonds | ETY vs ETVAX | |
| Eaton Vance High Yield Municipal Income Fund Class... | 0.15 | 0.15 | — | 91 | High Yield Muni | ETY vs EWHYX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ETY, 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 Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.11, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.11 | 0.00 | 0.12 | 66 | Communication Services | |
| Ellington Financial Inc. | 0.28 | 0.40 | 0.44 | 71 | Real Estate | |
| Capital Southwest Corporation | 0.38 | 0.40 | 0.44 | 72 | Financial Services | |
| BlackRock Science and Technology Term Trust | 0.53 | 0.61 | 0.64 | 88 | Financial Services | |
| BlackRock Science and Technology Trust | 0.65 | 0.68 | 0.71 | 84 | Financial Services |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements ETY
Add ETY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with ETY