Looking to diversify beyond MAGSX? The mutual funds below have historically moved differently from MAGSX, 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 MAGSX
3 mutual funds have low correlation with MAGSX (below 0.3), 2 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.21, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.21 | -0.02 | 0.14 | 83 | Diversified Portfolio | MAGSX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | -0.01 | 0.11 | 0.46 | 66 | Diversified Portfolio | MAGSX vs MHELX | |
| Madison Tax-Free National Fund | 0.25 | 0.19 | 0.18 | 75 | Municipal Bonds | MAGSX vs GTFHX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.35 | 0.54 | 0.63 | 89 | Diversified Portfolio | MAGSX vs FCSRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.35 | 0.54 | 0.63 | 91 | Diversified Portfolio | MAGSX vs FIQDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MAGSX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.11, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.11 | 0.37 | 0.52 | 61 | Financial Services | |
| NVIDIA Corporation | 0.42 | 0.48 | 0.59 | 56 | Technology |
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