Looking to diversify beyond KLGAX? The mutual funds below have the lowest correlation with KLGAX — 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 KLGAX.
Best Diversifiers for KLGAX
3 mutual funds have low correlation with KLGAX (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 0.11, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay MacKay Short Term Municipal Fund | 0.11 | 0.09 | 0.06 | 79 | Municipal Bonds | KLGAX vs MSTIX | |
| MainStay Short Term Bond Fund | 0.21 | 0.13 | 0.13 | 85 | Short-Term Bond | KLGAX vs MIXIX | |
| MainStay MacKay Strategic Bond Fund | 0.30 | 0.19 | 0.25 | 75 | Nontraditional Bonds | KLGAX vs MASAX | |
| MainStay Floating Rate Fund | 0.34 | 0.24 | 0.22 | 64 | Bank Loan | KLGAX vs MXFIX | |
| MainStay Epoch U.S. Equity Yield Fund | 0.43 | 0.54 | 0.64 | 84 | Large Cap Value Equities | KLGAX vs EPLCX |
See all 45 diversifiers for KLGAX
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