Looking to diversify beyond TEI? The mutual funds below have the lowest correlation with TEI — 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 TEI.
Best Diversifiers for TEI
1 mutual funds have low correlation with TEI (below 0.3), 0 of which are negatively correlated. The least correlated is Virtus Stone Harbor Emerg Mkts Corp Dbt (SHCDX) (Emerging Markets Bonds) with a 1Y correlation of 0.29, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus Stone Harbor Emerg Mkts Corp Dbt | 0.29 | 0.34 | 0.32 | 96 | Emerging Markets Bonds | TEI vs SHCDX | |
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.31 | 0.26 | 0.24 | 98 | Emerging Markets Bonds | TEI vs DBLLX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.33 | 0.24 | 0.26 | 97 | Emerging Markets Bonds | TEI vs EELDX | |
| American Beacon Developing World Income Fund Class... | 0.35 | 0.33 | 0.31 | 98 | Emerging Markets Bonds | TEI vs AGEYX | |
| DoubleLine Emerging Markets Fixed Income Fund Clas... | 0.35 | 0.37 | 0.32 | 88 | Emerging Markets Bonds | TEI vs DLENX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TEI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TEI and solid risk/return profiles. The least correlated is Capital Southwest Corporation (CSWC) (Financial Services) with a 1Y correlation of 0.17, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Capital Southwest Corporation | 0.17 | 0.25 | 0.28 | 76 | Financial Services | |
| Trinity Capital Inc. | 0.20 | 0.23 | 0.22 | 80 | Financial Services | |
| Reaves Utility Income Trust | 0.26 | 0.33 | 0.29 | 78 | Financial Services | |
| Cohen & Steers Infrastructure Fund, Inc | 0.28 | 0.31 | 0.31 | 63 | Financial Services | |
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.41 | 0.38 | 0.35 | 79 | Financial Services |
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