Looking to diversify beyond EVCGX? The mutual funds below have historically moved differently from EVCGX, 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 EVCGX
4 mutual funds have low correlation with EVCGX (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Massachusetts Municipal Income Fund (EIMAX) (Municipal Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Massachusetts Municipal Income Fund | 0.09 | 0.02 | 0.07 | 78 | Municipal Bonds | EVCGX vs EIMAX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.17 | 0.12 | 0.10 | 99 | Nontraditional Bonds | EVCGX vs EIGMX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.19 | 0.15 | 0.13 | 98 | Nontraditional Bonds | EVCGX vs EGRIX | |
| Eaton Vance Strategic Income Fund Class I | 0.24 | 0.12 | 0.15 | 94 | Multisector Bonds | EVCGX vs ESIIX | |
| Eaton Vance Multi-Asset Credit Fund | 0.31 | 0.24 | 0.29 | 90 | High Yield Bonds | EVCGX vs EIAMX |
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