Looking to diversify beyond MIAQX? The mutual funds below have historically moved differently from MIAQX, 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 MIAQX
3 mutual funds have low correlation with MIAQX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.16 | 0.29 | 0.25 | 99 | Multisector Bonds | MIAQX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.22 | 0.32 | 0.26 | 99 | Multisector Bonds | MIAQX vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.28 | 0.27 | 0.29 | 95 | Multisector Bonds | MIAQX vs CBLDX | |
| American Funds The Income Fund of America Class A | 0.44 | 0.47 | 0.48 | 81 | Diversified Portfolio, Dividend | MIAQX vs AMECX | |
| American Funds New World Fund | 0.45 | 0.34 | 0.41 | 55 | Emerging Markets Equities | MIAQX vs NEWFX |
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