Looking to diversify beyond EVDAX? The mutual funds below have the lowest correlation with EVDAX — 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 EVDAX.
Best Diversifiers for EVDAX
10 mutual funds have low correlation with EVDAX (below 0.3), 0 of which are negatively correlated. The least correlated is The Merger Fund Class I (MERIX) (Event Driven) with a 1Y correlation of 0.08, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| The Merger Fund Class I | 0.08 | 0.18 | 0.27 | 98 | Event Driven | EVDAX vs MERIX | |
| NexPoint Merger Arbitrage Fund | 0.10 | 0.18 | 0.24 | 99 | Event Driven | EVDAX vs HMEZX | |
| The Merger Fund | 0.10 | 0.19 | 0.28 | 97 | Event Driven | EVDAX vs MERFX | |
| Vivaldi Merger Arbitrage Fund Class I | 0.13 | 0.18 | 0.22 | 98 | Event Driven | EVDAX vs VARBX | |
| The Arbitrage Fund Class Institutional | 0.19 | 0.30 | 0.44 | 97 | Event Driven | EVDAX vs ARBNX |
See all 13 diversifiers for EVDAX
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