Looking to diversify beyond MNOVX? The mutual funds below have the lowest correlation with MNOVX — 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 MNOVX.
Best Diversifiers for MNOVX
13 mutual funds have low correlation with MNOVX (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 -0.01, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.01 | 0.19 | 0.23 | 95 | Municipal Bonds | MNOVX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.00 | 0.19 | 0.23 | 94 | Municipal Bonds | MNOVX vs DMREX | |
| MainStay Candriam Emerging Markets Equity Fund | 0.12 | 0.11 | 0.11 | 92 | Emerging Markets Diversified | MNOVX vs MCYVX | |
| DFA Short Term Municipal Bond Portfolio | 0.16 | 0.26 | 0.35 | 99 | Municipal Bonds | MNOVX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.18 | 0.28 | — | 100 | Municipal Bonds | MNOVX vs DFABX |
See all 26 diversifiers for MNOVX
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