Looking to diversify beyond MMGAX? The mutual funds below have historically moved differently from MMGAX, 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 MMGAX
13 mutual funds have low correlation with MMGAX (below 0.3), 0 of which are negatively correlated. The least correlated is MFS Value Fund Class I (MEIIX) (Large Cap Value Equities) with a 1Y correlation of 0.19, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MFS Value Fund Class I | 0.19 | 0.13 | 0.10 | 69 | Large Cap Value Equities | MMGAX vs MEIIX | |
| MFS Value Fund | 0.20 | 0.13 | 0.10 | 67 | Large Cap Value Equities | MMGAX vs MEIAX | |
| MFS Value Fund | 0.20 | 0.13 | 0.10 | 70 | Large Cap Value Equities | MMGAX vs MEIKX | |
| DFA Short Term Municipal Bond Portfolio | 0.22 | 0.27 | 0.36 | 100 | Municipal Bonds | MMGAX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.23 | 0.32 | 0.39 | 98 | Municipal Bonds | MMGAX vs USMSX |
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