Looking to diversify beyond MAGRX? The mutual funds below have the lowest correlation with MAGRX — 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 MAGRX.
Best Diversifiers for MAGRX
2 mutual funds have low correlation with MAGRX (below 0.3), 0 of which are negatively correlated. The least correlated is NXG Cushing® Midstream Energy Fund (SRV) (Energy Equities) with a 1Y correlation of 0.18, down from 0.47 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| NXG Cushing® Midstream Energy Fund | 0.18 | 0.30 | 0.47 | 73 | Energy Equities | MAGRX vs SRV | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.21 | 0.06 | 0.04 | 96 | Equity Market Neutral | MAGRX vs BDMIX | |
| BlackRock Technology Opportunities Fund Investor A | 0.31 | 0.33 | 0.40 | 50 | Technology Equities | MAGRX vs BGSAX | |
| Shelton Capital Management Nasdaq-100 Index Fund D... | 0.32 | 0.35 | 0.40 | 60 | Large Cap Growth Equities | MAGRX vs NASDX | |
| iShares S&P 500 Index Fund Class K | 0.40 | 0.46 | 0.52 | 65 | S&P 500 | MAGRX vs WFSPX |
See all 36 diversifiers for MAGRX
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