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 MFS Global High Yield Fund (MHOIX) (High Yield Bonds) with a 1Y correlation of 0.49, roughly unchanged from 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MFS Global High Yield Fund | 0.49 | 0.47 | 0.50 | 79 | High Yield Bonds | MGRAX vs MHOIX | |
| Kopernik International Fund | 0.59 | 0.51 | 0.60 | 54 | Foreign Large Cap Equities | MGRAX vs KGIIX | |
| SA International Value Fund | 0.63 | 0.64 | 0.69 | 88 | Foreign Large Cap Equities | MGRAX vs SAHMX | |
| PIMCO RAE PLUS International Fund | 0.64 | 0.63 | 0.64 | 75 | Foreign Large Cap Equities | MGRAX vs PTSIX | |
| Franklin Small Cap Value Fund | 0.64 | 0.63 | 0.65 | 55 | Small Cap Value Equities | MGRAX vs FRVLX |
See all 27 diversifiers for MGRAX
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