Looking to diversify beyond MCKIX? The mutual funds below have the lowest correlation with MCKIX — 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 MCKIX.
Best Diversifiers for MCKIX
2 mutual funds have low correlation with MCKIX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.06, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.06 | 0.18 | 0.51 | 67 | Diversified Portfolio | MCKIX vs MHELX | |
| MainStay MacKay Short Term Municipal Fund | 0.26 | 0.28 | 0.22 | 79 | Municipal Bonds | MCKIX vs MSTIX | |
| MainStay Floating Rate Fund | 0.33 | 0.28 | 0.29 | 64 | Bank Loan | MCKIX vs MXFIX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.41 | 0.61 | 0.66 | 88 | Diversified Portfolio | MCKIX vs FIQDX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.41 | 0.61 | 0.66 | 82 | Diversified Portfolio | MCKIX vs FCSRX |
See all 28 diversifiers for MCKIX
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