Looking to diversify beyond MGHAX? The mutual funds below have historically moved differently from MGHAX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
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 MainStay CBRE Real Estate Fund (CRARX) (REIT) with a 1Y correlation of 0.22, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay CBRE Real Estate Fund | 0.22 | 0.32 | 0.34 | 53 | REIT | MGHAX vs CRARX | |
| MainStay Epoch U.S. Equity Yield Fund | 0.36 | 0.31 | 0.31 | 92 | Large Cap Value Equities | MGHAX vs EPLCX | |
| MainStay Floating Rate Fund | 0.37 | 0.30 | 0.33 | 69 | Bank Loan | MGHAX vs MXFIX | |
| MainStay MacKay Short Term Municipal Fund | 0.44 | 0.44 | 0.43 | 74 | Municipal Bonds | MGHAX vs MSTIX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.46 | 0.37 | 0.38 | 57 | Emerging Markets Bonds | MGHAX vs EDD |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements MGHAX
Add MGHAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with MGHAX