Looking to diversify beyond MGHAX? The mutual funds below have the lowest correlation with MGHAX — 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 MGHAX.
Best Diversifiers for MGHAX
1 mutual funds have low correlation with MGHAX (below 0.3), 0 of which are negatively correlated. The least correlated is Virtus Stone Harbor Emerging Markets Income Fund (EDF) (Emerging Markets Bonds) with a 1Y correlation of 0.30, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus Stone Harbor Emerging Markets Income Fund | 0.30 | 0.27 | 0.31 | 63 | Emerging Markets Bonds | MGHAX vs EDF | |
| MainStay Floating Rate Fund | 0.38 | 0.30 | 0.33 | 64 | Bank Loan | MGHAX vs MXFIX | |
| MainStay Epoch U.S. Equity Yield Fund | 0.38 | 0.31 | 0.31 | 84 | Large Cap Value Equities | MGHAX vs EPLCX | |
| MainStay MacKay Short Term Municipal Fund | 0.39 | 0.45 | 0.42 | 79 | Municipal Bonds | MGHAX vs MSTIX | |
| MainStay Epoch Global Equity Yield Fund | 0.47 | 0.38 | 0.37 | 91 | Global Equities | MGHAX vs EPSYX |
See all 24 diversifiers for MGHAX
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