Looking to diversify beyond EVDIX? The mutual funds below have the lowest correlation with EVDIX — 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 EVDIX.
Best Diversifiers for EVDIX
9 mutual funds have low correlation with EVDIX (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 0.13, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| The Merger Fund Class I | 0.13 | 0.19 | 0.28 | 98 | Event Driven | EVDIX vs MERIX | |
| NexPoint Merger Arbitrage Fund | 0.13 | 0.18 | 0.24 | 99 | Event Driven | EVDIX vs HMEZX | |
| Vivaldi Merger Arbitrage Fund Class I | 0.15 | 0.19 | 0.22 | 98 | Event Driven | EVDIX vs VARBX | |
| The Merger Fund | 0.16 | 0.20 | 0.28 | 97 | Event Driven | EVDIX vs MERFX | |
| Dunham Monthly Distribution Fund | 0.22 | 0.25 | 0.34 | 97 | Event Driven | EVDIX vs DAMDX |
See all 12 diversifiers for EVDIX
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Diversification Analysis
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