Looking to diversify beyond MMGPX? The mutual funds below have the lowest correlation with MMGPX — 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 MMGPX.
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 0.06, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.06 | 0.04 | 0.04 | 99 | Ultrashort Bond | MMGPX vs MUIIX | |
| Essex Environmental Opportunities Fund | 0.58 | 0.66 | 0.71 | 79 | Mid Cap Growth Equities | MMGPX vs EEOFX | |
| Victory Munder Mid-Cap Core Growth Fund | 0.59 | 0.69 | 0.71 | 63 | Mid Cap Growth Equities | MMGPX vs MGOYX | |
| Invesco Discovery Mid Cap Growth Fund Class A | 0.59 | 0.72 | 0.77 | 54 | Mid Cap Growth Equities | MMGPX vs OEGAX | |
| Tanaka Growth Fund | 0.60 | 0.64 | 0.69 | 54 | Mid Cap Growth Equities | MMGPX vs TGFRX |
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