Looking to diversify beyond EVIFX? The mutual funds below have historically moved differently from EVIFX, 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 EVIFX
11 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 -0.28, down from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.28 | -0.11 | 0.03 | 83 | Diversified Portfolio | EVIFX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.13 | 0.43 | 66 | Diversified Portfolio | EVIFX vs MHELX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.19 | 0.19 | 0.08 | 99 | Nontraditional Bonds | EVIFX vs EIGMX | |
| Eaton Vance Massachusetts Municipal Income Fund | 0.24 | 0.22 | 0.21 | 78 | Municipal Bonds | EVIFX vs EIMAX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.26 | 0.41 | 0.49 | 89 | Diversified Portfolio | EVIFX vs FCSRX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EVIFX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Eni S.p.A. (E) (Energy) with a 1Y correlation of -0.01, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eni S.p.A. | -0.01 | 0.10 | 0.22 | 94 | Energy | |
| Vertiv Holdings Co. | 0.53 | 0.57 | 0.59 | 76 | Industrials |
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