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 Floating Rate Fund (MXFIX) (Bank Loan) with a 1Y correlation of 0.20, roughly unchanged from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay Floating Rate Fund | 0.20 | 0.21 | 0.21 | 62 | Bank Loan | MSOAX vs MXFIX | |
| MainStay MacKay Short Term Municipal Fund | 0.20 | 0.16 | 0.10 | 81 | Municipal Bonds | MSOAX vs MSTIX | |
| North Square Preferred and Income Securities Fund | 0.32 | 0.29 | 0.37 | 68 | Large Cap Blend Equities | MSOAX vs ORDNX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.33 | 0.17 | 0.15 | 95 | Large Cap Blend Equities | MSOAX vs SVPFX | |
| PRIMECAP Odyssey Growth Fund | 0.38 | 0.62 | 0.72 | 90 | Large Cap Blend Equities | MSOAX vs POGRX |
See all 46 diversifiers for MSOAX
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