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 BlackRock Global Long/Short Equity Fund Class I (BDMIX) (Long-Short) with a 1Y correlation of 0.13, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Long/Short Equity Fund Class I | 0.13 | 0.05 | 0.04 | 92 | Long-Short | MAGRX vs BDMIX | |
| Shelton Capital Management Nasdaq-100 Index Fund D... | 0.28 | 0.34 | 0.40 | 75 | Large Cap Growth Equities | MAGRX vs NASDX | |
| iShares S&P 500 Index Fund | 0.37 | 0.46 | 0.52 | 73 | S&P 500 | MAGRX vs WFSPX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.37 | 0.45 | 0.52 | 81 | Diversified Portfolio | MAGRX vs VTMFX | |
| Vanguard Tax-Managed Capital Appreciation Fund Adm... | 0.38 | 0.46 | 0.53 | 70 | Large Cap Blend Equities | MAGRX vs VTCLX |
See all 32 diversifiers for MAGRX
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