Looking to balance out your exposure to EVN? The ETFs below have the lowest correlation with EVN — they tend to move on their own, which can help reduce risk when EVN drops. The stock ideas table highlights individual companies that behave independently from EVN.
Best Diversifiers for EVN
2 ETFs have low correlation with EVN (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.14, roughly unchanged from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.14 | 0.23 | 0.23 | 70 | S&P 500 | EVN vs VOO | |
| Eaton Vance High Yield ETF | 0.20 | — | — | 62 | High Yield Bonds | EVN vs EVHY | |
| iShares California Muni Bond ETF | 0.31 | 0.43 | 0.43 | 65 | Municipal Bonds | EVN vs CMF |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EVN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EVN and solid risk/return profiles. The least correlated is Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) (Financial Services) with a 1Y correlation of 0.19, roughly unchanged from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.19 | 0.23 | 0.23 | 79 | Financial Services | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.48 | 0.61 | 0.57 | 78 | Financial Services |
Build a portfolio that complements EVN
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