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
2 mutual funds have low correlation with MMRIX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.08, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.08 | 0.19 | 0.53 | 70 | Diversified Portfolio | MMRIX vs MHELX | |
| MainStay MacKay Short Term Municipal Fund | 0.23 | 0.22 | 0.16 | 78 | Municipal Bonds | MMRIX vs MSTIX | |
| MainStay Floating Rate Fund | 0.34 | 0.29 | 0.29 | 64 | Bank Loan | MMRIX vs MXFIX | |
| MainStay Short Term Bond Fund | 0.37 | 0.33 | 0.28 | 85 | Short-Term Bond | MMRIX vs MIXIX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.60 | 0.65 | 82 | Diversified Portfolio | MMRIX vs FCSRX |
See all 41 diversifiers for MMRIX
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