Looking to diversify beyond MCYVX? The mutual funds below have the lowest correlation with MCYVX — 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 MCYVX.
Best Diversifiers for MCYVX
4 mutual funds have low correlation with MCYVX (below 0.3), 0 of which are negatively correlated. The least correlated is MainStay MacKay California Tax Free Opportunities Fund (MSCVX) (Municipal Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay MacKay California Tax Free Opportunities ... | 0.10 | 0.09 | 0.10 | 69 | Municipal Bonds | MCYVX vs MSCVX | |
| MainStay MacKay New York Tax Free Opportunities Fu... | 0.11 | 0.11 | 0.10 | 76 | Municipal Bonds | MCYVX vs MNOVX | |
| MainStay MacKay Strategic Municipal Allocation Fun... | 0.12 | 0.11 | 0.12 | 73 | Municipal Bonds | MCYVX vs MTFEX | |
| MainStay MacKay High Yield Municipal Bond Fund | 0.14 | 0.12 | 0.12 | 73 | High Yield Muni | MCYVX vs MMHVX | |
| MainStay MacKay Short Duration High Yield Fund | 0.33 | 0.33 | 0.38 | 93 | High Yield Bonds | MCYVX vs MDHVX |
See all 27 diversifiers for MCYVX
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