Looking to diversify beyond MAGKX? The mutual funds below have historically moved differently from MAGKX, 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 MAGKX
0 mutual funds have low correlation with MAGKX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes MDT Small Cap Growth Fund (QISGX) (Small Cap Growth Equities) with a 1Y correlation of 0.49, down from 0.70 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Small Cap Growth Fund | 0.49 | 0.65 | 0.70 | 71 | Small Cap Growth Equities | MAGKX vs QISGX | |
| Mutual of America International Fund | 0.69 | 0.65 | 0.68 | 71 | Foreign Large Cap Equities | MAGKX vs MAIFX | |
| Driehaus Micro Cap Growth Fund | 0.69 | 0.79 | 0.77 | 82 | Small Cap Growth Equities | MAGKX vs DMCRX | |
| Mutual of America Retirement Income Fund | 0.73 | 0.71 | 0.71 | 66 | Target Retirement Date | MAGKX vs MARMX | |
| Mutual of America Conservative Allocation Fund | 0.75 | 0.74 | 0.75 | 70 | Diversified Portfolio | MAGKX vs MACAX |
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