Looking to diversify beyond MMIBX? The mutual funds below have the lowest correlation with MMIBX — 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 MMIBX.
Best Diversifiers for MMIBX
11 mutual funds have low correlation with MMIBX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.03, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.03 | 0.17 | 0.22 | 96 | Municipal Bonds | MMIBX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.03 | 0.21 | 0.23 | 95 | Municipal Bonds | MMIBX vs DMREX | |
| JPMorgan Ultra-Short Municipal Fund | 0.13 | 0.31 | 0.37 | 99 | Municipal Bonds | MMIBX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.18 | 0.32 | 0.42 | 99 | Municipal Bonds | MMIBX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 0.19 | 0.29 | 0.38 | 99 | Municipal Bonds | MMIBX vs DFSMX |
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