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
1 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 0.18, up 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 | 0.18 | 0.05 | 0.04 | 96 | Long-Short | MAGRX vs BDMIX | |
| Shelton Capital Management Nasdaq-100 Index Fund D... | 0.30 | 0.35 | 0.40 | 71 | Large Cap Growth Equities | MAGRX vs NASDX | |
| BlackRock Technology Opportunities Fund Investor A | 0.32 | 0.33 | 0.40 | 69 | Technology Equities | MAGRX vs BGSAX | |
| iShares S&P 500 Index Fund Class K | 0.39 | 0.46 | 0.52 | 65 | S&P 500 | MAGRX vs WFSPX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.40 | 0.45 | 0.51 | 76 | Diversified Portfolio, Municipal Bonds | MAGRX vs VTMFX |
See all 31 diversifiers for MAGRX
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