Looking to diversify beyond MEGIX? The mutual funds below have the lowest correlation with MEGIX — 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 MEGIX.
Best Diversifiers for MEGIX
4 mutual funds have low correlation with MEGIX (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) (Ultrashort Bond) with a 1Y correlation of 0.05, up from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed... | 0.05 | -0.03 | -0.07 | 97 | Ultrashort Bond | MEGIX vs TSDUX | |
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.05 | 0.02 | 0.02 | 99 | Ultrashort Bond | MEGIX vs MUIIX | |
| Morgan Stanley Pathway Funds Municipal Bond Fund | 0.17 | 0.14 | 0.13 | 61 | Municipal Bonds | MEGIX vs TMUUX | |
| Morgan Stanley China A Share Fund | 0.21 | 0.23 | 0.27 | 83 | China Equities | MEGIX vs CAF | |
| AQR Long-Short Equity Fund | 0.30 | 0.30 | 0.05 | 53 | Long-Short | MEGIX vs QLEIX |
See all 31 diversifiers for MEGIX
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