Looking to diversify beyond MIFIX? The mutual funds below have the lowest correlation with MIFIX — 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 MIFIX.
Best Diversifiers for MIFIX
2 mutual funds have low correlation with MIFIX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) (Ultrashort Bond) with a 1Y correlation of 0.16, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Ultra Short-Term Bond Fund | 0.16 | 0.06 | 0.09 | 99 | Ultrashort Bond | MIFIX vs TRBUX | |
| BlackRock New Jersey Municipal Bond Fund | 0.23 | 0.20 | 0.18 | 73 | Municipal Bonds | MIFIX vs MANJX | |
| Vanguard Short-Term Corporate Bond Index Fund Inst... | 0.43 | 0.31 | 0.28 | 81 | Corporate Bonds | MIFIX vs VSTBX | |
| Vanguard Short-Term Corporate Bond Index Fund Admi... | 0.43 | 0.31 | 0.28 | 78 | Corporate Bonds | MIFIX vs VSCSX | |
| CYBER HORNET S&P 500 | 0.71 | 0.76 | 0.82 | 66 | S&P 500, Large Cap Blend Equities | MIFIX vs INDEX |
See all 7 diversifiers for MIFIX
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