Looking to diversify beyond MGHYX? The mutual funds below have the lowest correlation with MGHYX — 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 MGHYX.
Best Diversifiers for MGHYX
5 mutual funds have low correlation with MGHYX (below 0.3), 1 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.03, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.03 | 0.02 | 0.03 | 100 | High Yield Bonds | MGHYX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.06 | 0.06 | 0.10 | 100 | High Yield Bonds | MGHYX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.16 | 0.13 | 0.24 | 99 | High Yield Bonds | MGHYX vs RPHIX | |
| Pioneer Corporate High Yield Fund | 0.21 | 0.61 | 0.74 | 52 | High Yield Bonds | MGHYX vs RCRYX | |
| Fidelity Floating Rate High Income Fund | 0.27 | 0.39 | 0.48 | 92 | Bank Loan | MGHYX vs FFRHX |
See all 51 diversifiers for MGHYX
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