Looking to diversify beyond MGAFX? The mutual funds below have the lowest correlation with MGAFX — 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 MGAFX.
Best Diversifiers for MGAFX
2 mutual funds have low correlation with MGAFX (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 -0.18, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.18 | 0.01 | 0.12 | 73 | Diversified Portfolio | MGAFX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.19 | 0.53 | 64 | Diversified Portfolio | MGAFX vs MHELX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.37 | 0.58 | 0.63 | 95 | Diversified Portfolio | MGAFX vs FCSRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.37 | 0.59 | 0.63 | 96 | Diversified Portfolio | MGAFX vs FSIRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.37 | 0.58 | 0.63 | 96 | Diversified Portfolio | MGAFX vs FIQDX |
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