Looking to diversify beyond MIY? The mutual funds below have historically moved differently from MIY, 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 MIY
299 mutual funds have low correlation with MIY (below 0.3), 2 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.17, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.17 | 0.05 | 0.13 | 89 | Municipal Bonds | MIY vs DCARX | |
| DFA Municipal Real Return Portfolio | -0.08 | 0.08 | 0.13 | 92 | Municipal Bonds | MIY vs DMREX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.02 | -0.07 | -0.19 | 67 | Systematic Trend | MIY vs ASFYX | |
| abrdn Ultra Short Municipal Income Fund | 0.03 | 0.14 | 0.11 | 100 | Municipal Bonds | MIY vs ATOIX | |
| AB Municipal Bond Inflation Strategy | 0.05 | 0.26 | 0.24 | 85 | Municipal Bonds | MIY vs AUNYX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MIY, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.23 | 0.22 | 0.24 | 89 |
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