Looking to diversify beyond MMGPX? The mutual funds below have historically moved differently from MMGPX, 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 MMGPX
1 mutual funds have low correlation with MMGPX (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio (MUIIX) (Ultrashort Bond) with a 1Y correlation of 0.12, roughly unchanged from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.12 | 0.03 | 0.05 | 100 | Ultrashort Bond | MMGPX vs MUIIX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.33 | 0.30 | 0.33 | 53 | Emerging Markets Bonds | MMGPX vs EDD | |
| Needham Growth Fund Institutional Class | 0.56 | 0.65 | 0.71 | 56 | Mid Cap Growth Equities | MMGPX vs NEEIX | |
| Victory Munder Mid-Cap Core Growth Fund | 0.57 | 0.67 | 0.71 | 74 | Mid Cap Growth Equities | MMGPX vs MGOYX | |
| Timothy Plan Aggressive Growth Fund | 0.57 | 0.68 | 0.74 | 63 | Mid Cap Growth Equities | MMGPX vs TAAGX |
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