Looking to diversify beyond MAGSX? The mutual funds below have the lowest correlation with MAGSX — 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 MAGSX.
Best Diversifiers for MAGSX
3 mutual funds have low correlation with MAGSX (below 0.3), 1 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 -0.16, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.16 | 0.04 | 0.18 | 73 | Diversified Portfolio | MAGSX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.03 | 0.17 | 0.50 | 64 | Diversified Portfolio | MAGSX vs MHELX | |
| Madison Tax-Free National Fund | 0.22 | 0.19 | 0.17 | 76 | Municipal Bonds | MAGSX vs GTFHX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.36 | 0.58 | 0.65 | 95 | Diversified Portfolio | MAGSX vs FCSRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.36 | 0.58 | 0.65 | 96 | Diversified Portfolio | MAGSX vs FSIRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MAGSX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MAGSX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.36, down from 0.57 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.36 | 0.47 | 0.57 | 78 | Technology |
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