Looking to diversify beyond MMRIX? The mutual funds below have the lowest correlation with MMRIX — 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 MMRIX.
Best Diversifiers for MMRIX
4 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 -0.19, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.19 | 0.01 | 0.13 | 58 | Diversified Portfolio | MMRIX vs SIFAX | |
| MainStay Cushing MLP Premier Fund | -0.04 | 0.34 | 0.49 | 73 | Energy Equities | MMRIX vs CSHZX | |
| MH Elite Small Cap Fund of Funds Fund | 0.06 | 0.18 | 0.53 | 69 | Diversified Portfolio | MMRIX vs MHELX | |
| MainStay MacKay Short Term Municipal Fund | 0.25 | 0.23 | 0.16 | 81 | Municipal Bonds | MMRIX vs MSTIX | |
| MainStay Short Term Bond Fund | 0.34 | 0.33 | 0.28 | 91 | Short-Term Bond | MMRIX vs MIXIX |
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