Looking to diversify beyond MAGRX? The mutual funds below have historically moved differently from MAGRX, 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 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 0.20, down from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| NXG Cushing® Midstream Energy Fund | 0.20 | 0.30 | 0.46 | 53 | Energy Equities | MAGRX vs SRV | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.24 | 0.06 | 0.05 | 98 | Equity Market Neutral | MAGRX vs BDMIX | |
| Invesco SteelPath MLP Alpha Fund | 0.34 | 0.49 | 0.64 | 81 | Energy Equities | MAGRX vs MLPOX | |
| BlackRock Enhanced Equity Dividend Trust | 0.35 | 0.42 | 0.50 | 66 | Derivative Income | MAGRX vs BDJ | |
| Virtus Duff & Phelps Select MLP and Energy Fund | 0.35 | 0.52 | 0.68 | 85 | Energy Equities | MAGRX vs VLPIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MAGRX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.24 | 0.33 | 0.44 | 89 |
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