Looking to diversify beyond MGDIX? The mutual funds below have the lowest correlation with MGDIX — 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 MGDIX.
Best Diversifiers for MGDIX
3 mutual funds have low correlation with MGDIX (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 0.15 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 | 0.03 | 0.15 | 73 | Diversified Portfolio | MGDIX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.09 | 0.21 | 0.55 | 64 | Diversified Portfolio | MGDIX vs MHELX | |
| MainStay MacKay Short Term Municipal Fund | 0.17 | 0.17 | 0.10 | 80 | Municipal Bonds | MGDIX vs MSTIX | |
| MainStay Floating Rate Fund | 0.32 | 0.28 | 0.28 | 61 | Bank Loan | MGDIX vs MXFIX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.36 | 0.59 | 0.64 | 96 | Diversified Portfolio | MGDIX vs FSIRX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements MGDIX
Add MGDIX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with MGDIX