Looking to diversify beyond MGXIX? The mutual funds below have the lowest correlation with MGXIX — 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 MGXIX.
Best Diversifiers for MGXIX
2 mutual funds have low correlation with MGXIX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.08, down from 0.54 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.08 | 0.19 | 0.54 | 70 | Diversified Portfolio | MGXIX vs MHELX | |
| MainStay MacKay Short Term Municipal Fund | 0.19 | 0.15 | 0.09 | 78 | Municipal Bonds | MGXIX vs MSTIX | |
| MainStay Floating Rate Fund | 0.33 | 0.28 | 0.28 | 62 | Bank Loan | MGXIX vs MXFIX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.38 | 0.57 | 0.62 | 82 | Diversified Portfolio | MGXIX vs FCSRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.57 | 0.62 | 86 | Diversified Portfolio | MGXIX vs FSIRX |
See all 36 diversifiers for MGXIX
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