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
2 mutual funds have low correlation with MCNAX (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 0.17 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 | 0.05 | 0.17 | 58 | Diversified Portfolio | MCNAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.01 | 0.12 | 0.37 | 69 | Diversified Portfolio | MCNAX vs MHELX | |
| Madison Tax-Free National Fund | 0.35 | 0.37 | 0.36 | 77 | Municipal Bonds | MCNAX vs GTFHX | |
| Concorde Wealth Management Fund | 0.36 | 0.52 | 0.59 | 71 | Diversified Portfolio | MCNAX vs CONWX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.40 | 0.57 | 0.60 | 79 | Diversified Portfolio | MCNAX vs FCSRX |
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