Looking to diversify beyond EVDIX? The mutual funds below have historically moved differently from EVDIX, 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 EVDIX
8 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.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| The Merger Fund Class I | 0.13 | 0.18 | 0.28 | 97 | Event Driven | EVDIX vs MERIX | |
| NexPoint Merger Arbitrage Fund | 0.14 | 0.19 | 0.25 | 99 | Event Driven | EVDIX vs HMEZX | |
| The Merger Fund | 0.16 | 0.18 | 0.28 | 96 | Event Driven | EVDIX vs MERFX | |
| Dunham Monthly Distribution Fund | 0.18 | 0.24 | 0.34 | 86 | Event Driven | EVDIX vs DAMDX | |
| Vivaldi Merger Arbitrage Fund Class I | 0.18 | 0.20 | 0.22 | 99 | Event Driven | EVDIX vs VARBX |
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