Looking to diversify beyond MSOAX? The mutual funds below have the lowest correlation with MSOAX — 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 MSOAX.
Best Diversifiers for MSOAX
2 mutual funds have low correlation with MSOAX (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 0.18, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay MacKay Short Term Municipal Fund | 0.18 | 0.16 | 0.10 | 79 | Municipal Bonds | MSOAX vs MSTIX | |
| MainStay Floating Rate Fund | 0.23 | 0.22 | 0.21 | 64 | Bank Loan | MSOAX vs MXFIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.32 | 0.16 | 0.14 | 72 | Large Cap Blend Equities | MSOAX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.33 | 0.29 | 0.38 | 69 | Large Cap Blend Equities | MSOAX vs ORDNX | |
| MainStay MacKay High Yield Corporate Bond Fund Cla... | 0.42 | 0.47 | 0.49 | 83 | High Yield Bonds | MSOAX vs MHCAX |
See all 44 diversifiers for MSOAX
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