Looking to diversify beyond MCNAX? The mutual funds below have the lowest correlation with MCNAX — 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 MCNAX.
Best Diversifiers for MCNAX
1 mutual funds have low correlation with MCNAX (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 0.04, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.14 | 0.38 | 70 | Diversified Portfolio | MCNAX vs MHELX | |
| Madison Tax-Free National Fund | 0.35 | 0.37 | 0.36 | 76 | Municipal Bonds | MCNAX vs GTFHX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.57 | 0.61 | 88 | Diversified Portfolio | MCNAX vs FIQDX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.57 | 0.60 | 82 | Diversified Portfolio | MCNAX vs FCSRX | |
| Concorde Wealth Management Fund | 0.39 | 0.54 | 0.59 | 55 | Diversified Portfolio | MCNAX vs CONWX |
See all 31 diversifiers for MCNAX
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