Looking to diversify beyond MGRAX? The mutual funds below have the lowest correlation with MGRAX — 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 MGRAX.
Best Diversifiers for MGRAX
0 mutual funds have low correlation with MGRAX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes International Strategic Value Dividend Fund (IVFIX) (Foreign Large Cap Equities) with a 1Y correlation of 0.47, down from 0.65 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes International Strategic Value Div... | 0.47 | 0.55 | 0.65 | 61 | Foreign Large Cap Equities | MGRAX vs IVFIX | |
| MFS Global High Yield Fund | 0.50 | 0.46 | 0.51 | 84 | High Yield Bonds | MGRAX vs MHOIX | |
| PIMCO RAE PLUS International Fund | 0.60 | 0.62 | 0.63 | 82 | Foreign Large Cap Equities | MGRAX vs PTSIX | |
| SA International Value Fund | 0.64 | 0.64 | 0.69 | 89 | Foreign Large Cap Equities | MGRAX vs SAHMX | |
| DFA Emerging Markets ex China Core Equity Portfoli... | 0.65 | 0.69 | — | 84 | Emerging Markets Diversified | MGRAX vs DAADX |
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