Looking to diversify beyond MMRIX? The mutual funds below have historically moved differently from MMRIX, 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 MMRIX
5 mutual funds have low correlation with MMRIX (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 -0.24, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.24 | -0.02 | 0.12 | 83 | Diversified Portfolio | MMRIX vs SIFAX | |
| MainStay Cushing MLP Premier Fund | -0.07 | 0.32 | 0.47 | 77 | Energy Equities | MMRIX vs CSHZX | |
| MH Elite Small Cap Fund of Funds Fund | 0.06 | 0.16 | 0.51 | 66 | Diversified Portfolio | MMRIX vs MHELX | |
| MainStay MacKay Short Term Municipal Fund | 0.26 | 0.23 | 0.17 | 74 | Municipal Bonds | MMRIX vs MSTIX | |
| MainStay CBRE Real Estate Fund | 0.28 | 0.52 | 0.63 | 53 | REIT | MMRIX vs CRARX |
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