Looking to diversify beyond MGRAX? The mutual funds below have historically moved differently from MGRAX, 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 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 0.45, down from 0.65 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes International Strategic Value Div... | 0.45 | 0.55 | 0.65 | 87 | Foreign Large Cap Equities | MGRAX vs IVFIX | |
| MFS Global High Yield Fund | 0.50 | 0.46 | 0.51 | 65 | High Yield Bonds | MGRAX vs MHOIX | |
| GQG Partners International Quality Dividend Income... | 0.51 | 0.65 | 0.68 | 65 | Quality Factor, Foreign Large Cap Equities | MGRAX vs GQJPX | |
| Pear Tree Polaris Foreign Value Fund | 0.55 | 0.64 | 0.68 | 91 | Foreign Large Cap Equities | MGRAX vs QFVOX | |
| MFS Value Fund Class I | 0.55 | 0.56 | 0.64 | 79 | Large Cap Value Equities | MGRAX vs MEIIX |
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