Looking to diversify beyond EVIFX? The mutual funds below have the lowest correlation with EVIFX — 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 EVIFX.
Best Diversifiers for EVIFX
10 mutual funds have low correlation with EVIFX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.24, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.24 | -0.06 | 0.06 | 73 | Diversified Portfolio | EVIFX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.07 | 0.17 | 0.46 | 64 | Diversified Portfolio | EVIFX vs MHELX | |
| Eaton Vance Massachusetts Municipal Income Fund | 0.22 | 0.22 | 0.20 | 70 | Municipal Bonds | EVIFX vs EIMAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.24 | 0.25 | 0.13 | 97 | Nontraditional Bonds | EVIFX vs EGRIX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.25 | 0.43 | 0.50 | 96 | Diversified Portfolio | EVIFX vs FSIRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EVIFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EVIFX and solid risk/return profiles. The least correlated is Eni S.p.A. (E) (Energy) with a 1Y correlation of 0.02, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eni S.p.A. | 0.02 | 0.13 | 0.24 | 97 | Energy | |
| Vertiv Holdings Co. | 0.52 | 0.56 | 0.58 | 94 | Industrials |
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