Looking to diversify beyond MOPIX? The mutual funds below have the lowest correlation with MOPIX — 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 MOPIX.
Best Diversifiers for MOPIX
3 mutual funds have low correlation with MOPIX (below 0.3), 0 of which are negatively correlated. The least correlated is MainStay MacKay Short Term Municipal Fund (MSTIX) (Municipal Bonds) with a 1Y correlation of 0.12, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay MacKay Short Term Municipal Fund | 0.12 | 0.09 | 0.05 | 80 | Municipal Bonds | MOPIX vs MSTIX | |
| MainStay Floating Rate Fund | 0.26 | 0.24 | 0.25 | 65 | Bank Loan | MOPIX vs MXFIX | |
| Federated Hermes MDT Small Cap Core Fund | 0.26 | 0.62 | 0.78 | 51 | Small Cap Blend Equities | MOPIX vs QISCX | |
| MainStay MacKay High Yield Corporate Bond Fund Cla... | 0.50 | 0.55 | 0.53 | 85 | High Yield Bonds | MOPIX vs MHCAX | |
| John Hancock Variable Insurance Trust Small Cap In... | 0.69 | 0.84 | 0.90 | 65 | Small Cap Blend Equities | MOPIX vs JESIX |
See all 99 diversifiers for MOPIX
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