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
3 mutual funds have low correlation with MGXIX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.18, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.18 | 0.02 | 0.13 | 76 | Diversified Portfolio | MGXIX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.09 | 0.22 | 0.55 | 63 | Diversified Portfolio | MGXIX vs MHELX | |
| MainStay MacKay Short Term Municipal Fund | 0.15 | 0.14 | 0.09 | 80 | Municipal Bonds | MGXIX vs MSTIX | |
| MainStay Floating Rate Fund | 0.32 | 0.28 | 0.27 | 65 | Bank Loan | MGXIX vs MXFIX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.36 | 0.58 | 0.63 | 96 | Diversified Portfolio | MGXIX vs FIQDX |
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