Looking to diversify beyond MSNYX? The mutual funds below have the lowest correlation with MSNYX — 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 MSNYX.
Best Diversifiers for MSNYX
9 mutual funds have low correlation with MSNYX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Short Term Municipal Bond Portfolio (DFSMX) (Municipal Bonds) with a 1Y correlation of 0.20, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.20 | 0.28 | 0.36 | 99 | Municipal Bonds | MSNYX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.21 | 0.32 | 0.39 | 99 | Municipal Bonds | MSNYX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.23 | 0.30 | 0.40 | 99 | Municipal Bonds | MSNYX vs DNYMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.23 | 0.30 | 0.40 | 100 | Municipal Bonds | MSNYX vs DFABX | |
| Federated Hermes Conservative Municipal Microshort... | 0.24 | 0.18 | 0.14 | 99 | Municipal Bonds | MSNYX vs FHMIX |
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