Looking to diversify beyond KLGAX? The mutual funds below have historically moved differently from KLGAX, 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 KLGAX
5 mutual funds have low correlation with KLGAX (below 0.3), 2 of which are negatively correlated. The least correlated is MainStay Cushing MLP Premier Fund (CSHZX) (Energy Equities) with a 1Y correlation of -0.13, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay Cushing MLP Premier Fund | -0.13 | 0.18 | 0.32 | 77 | Energy Equities | KLGAX vs CSHZX | |
| MainStay CBRE Real Estate Fund | -0.01 | 0.21 | 0.42 | 53 | REIT | KLGAX vs CRARX | |
| MainStay MacKay Short Term Municipal Fund | 0.14 | 0.09 | 0.07 | 74 | Municipal Bonds | KLGAX vs MSTIX | |
| MainStay Short Term Bond Fund | 0.18 | 0.13 | 0.13 | 93 | Short-Term Bond | KLGAX vs MIXIX | |
| MainStay MacKay Strategic Bond Fund | 0.29 | 0.18 | 0.25 | 76 | Nontraditional Bonds | KLGAX vs MASAX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements KLGAX
Add KLGAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with KLGAX