Looking to diversify beyond EPLCX? The mutual funds below have historically moved differently from EPLCX, 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 EPLCX
4 mutual funds have low correlation with EPLCX (below 0.3), 0 of which are negatively correlated. The least correlated is MainStay MacKay Short Term Municipal Fund (MSTIX) (Municipal Bonds) with a 1Y correlation of 0.18, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay MacKay Short Term Municipal Fund | 0.18 | 0.14 | 0.08 | 74 | Municipal Bonds | EPLCX vs MSTIX | |
| MainStay Short Term Bond Fund | 0.19 | 0.17 | 0.14 | 93 | Short-Term Bond | EPLCX vs MIXIX | |
| MainStay Floating Rate Fund | 0.22 | 0.25 | 0.24 | 69 | Bank Loan | EPLCX vs MXFIX | |
| MainStay Cushing MLP Premier Fund | 0.23 | 0.46 | 0.56 | 77 | Energy Equities | EPLCX vs CSHZX | |
| MainStay MacKay Strategic Bond Fund | 0.31 | 0.25 | 0.28 | 76 | Nontraditional Bonds | EPLCX vs MASAX |
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