Looking to diversify beyond EVTMX? The mutual funds below have the lowest correlation with EVTMX — 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 EVTMX.
Best Diversifiers for EVTMX
3 mutual funds have low correlation with EVTMX (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Massachusetts Municipal Income Fund (EIMAX) (Municipal Bonds) with a 1Y correlation of 0.19, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Massachusetts Municipal Income Fund | 0.19 | 0.16 | 0.11 | 70 | Municipal Bonds | EVTMX vs EIMAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.21 | 0.22 | 0.11 | 97 | Nontraditional Bonds | EVTMX vs EGRIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.27 | 0.12 | 0.11 | 73 | Large Cap Blend Equities | EVTMX vs SVPFX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.31 | 0.27 | 0.28 | 97 | Emerging Markets Bonds | EVTMX vs EELDX | |
| Eaton Vance Strategic Income Fund Class I | 0.37 | 0.25 | 0.21 | 92 | Multisector Bonds | EVTMX vs ESIIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EVTMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EVTMX and solid risk/return profiles. The least correlated is BlackRock Science and Technology Trust (BST) (Financial Services) with a 1Y correlation of 0.46, down from 0.61 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Science and Technology Trust | 0.46 | 0.53 | 0.61 | 88 | Financial Services | |
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.53 | 0.59 | 0.64 | 79 | Financial Services |
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