Looking to diversify beyond MNBAX? The mutual funds below have the lowest correlation with MNBAX — 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 MNBAX.
Best Diversifiers for MNBAX
1 mutual funds have low correlation with MNBAX (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 0.04, down from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.14 | 0.43 | 67 | Diversified Portfolio | MNBAX vs MHELX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.31 | 0.51 | 0.55 | 82 | Diversified Portfolio | MNBAX vs FCSRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.32 | 0.51 | 0.55 | 88 | Diversified Portfolio | MNBAX vs FIQDX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.32 | 0.51 | 0.55 | 86 | Diversified Portfolio | MNBAX vs FSIRX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.32 | 0.52 | 0.55 | 88 | Diversified Portfolio | MNBAX vs FSRKX |
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