Looking to diversify beyond MGTIX? The mutual funds below have the lowest correlation with MGTIX — 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 MGTIX.
Best Diversifiers for MGTIX
2 mutual funds have low correlation with MGTIX (below 0.3), 0 of which are negatively correlated. The least correlated is Columbia High Yield Municipal Fund (SRHMX) (High Yield Muni) with a 1Y correlation of 0.17, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Columbia High Yield Municipal Fund | 0.17 | 0.13 | 0.13 | 83 | High Yield Muni | MGTIX vs SRHMX | |
| Columbia Strategic Municipal Income Fund | 0.18 | 0.14 | 0.13 | 72 | Municipal Bonds | MGTIX vs INTAX | |
| MFS Emerging Markets Debt Fund | 0.42 | 0.31 | 0.33 | 82 | Emerging Markets Bonds | MGTIX vs MEDIX | |
| BlackRock Event Driven Equity Fund | 0.48 | 0.55 | 0.63 | 74 | Event Driven | MGTIX vs BILPX | |
| One Rock Fund | 0.56 | 0.68 | 0.73 | 87 | Large Cap Growth Equities | MGTIX vs ONERX |
See all 38 diversifiers for MGTIX
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