Looking to diversify beyond MGRDX? The mutual funds below have the lowest correlation with MGRDX — 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 MGRDX.
Best Diversifiers for MGRDX
0 mutual funds have low correlation with MGRDX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) (Global Bonds) with a 1Y correlation of 0.39, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Global Multi-Sector Bond Fund | 0.39 | 0.30 | 0.29 | 91 | Global Bonds | MGRDX vs PRSNX | |
| JPMorgan Emerging Markets Debt Fund | 0.58 | 0.46 | 0.47 | 81 | Emerging Markets Bonds | MGRDX vs JEMDX | |
| PGIM High Yield Fund Class R6 | 0.58 | 0.49 | 0.53 | 72 | High Yield Bonds | MGRDX vs PHYQX | |
| Kopernik International Fund | 0.59 | 0.51 | 0.60 | 54 | Foreign Large Cap Equities | MGRDX vs KGIIX | |
| PIMCO RAE PLUS International Fund | 0.62 | 0.63 | 0.64 | 75 | Foreign Large Cap Equities | MGRDX vs PTSIX |
See all 35 diversifiers for MGRDX
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