Looking to diversify beyond MMDAX? The mutual funds below have the lowest correlation with MMDAX — 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 MMDAX.
Best Diversifiers for MMDAX
3 mutual funds have low correlation with MMDAX (below 0.3), 2 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 -0.15, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.15 | 0.03 | 0.16 | 60 | Diversified Portfolio | MMDAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | -0.00 | 0.13 | 0.45 | 67 | Diversified Portfolio | MMDAX vs MHELX | |
| Madison Tax-Free National Fund | 0.27 | 0.25 | 0.24 | 77 | Municipal Bonds | MMDAX vs GTFHX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.40 | 0.58 | 0.65 | 91 | Diversified Portfolio | MMDAX vs FIQDX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.40 | 0.58 | 0.64 | 86 | Diversified Portfolio | MMDAX vs FCSRX |
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