Looking to diversify beyond MFEGX? The mutual funds below have the lowest correlation with MFEGX — 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 MFEGX.
Best Diversifiers for MFEGX
3 mutual funds have low correlation with MFEGX (below 0.3), 0 of which are negatively correlated. The least correlated is American Funds Tax-Exempt Fund of California (TAFTX) (Municipal Bonds) with a 1Y correlation of 0.13, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American Funds Tax-Exempt Fund of California | 0.13 | 0.09 | 0.11 | 61 | Municipal Bonds | MFEGX vs TAFTX | |
| Franklin California Tax Free Income Fund | 0.14 | 0.08 | 0.09 | 57 | Municipal Bonds | MFEGX vs FKTFX | |
| MFS California Municipal Bond Fund | 0.18 | 0.13 | 0.13 | 54 | Municipal Bonds | MFEGX vs MCFTX | |
| Emerald Insights Fund | 0.38 | 0.77 | 0.84 | 98 | Large Cap Growth Equities | MFEGX vs EFCNX | |
| American Funds The Income Fund of America Class A | 0.46 | 0.52 | 0.62 | 52 | Diversified Portfolio, Dividend | MFEGX vs AMECX |
See all 32 diversifiers for MFEGX
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