Looking to diversify beyond MSPIX? The mutual funds below have the lowest correlation with MSPIX — 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 MSPIX.
Best Diversifiers for MSPIX
4 mutual funds have low correlation with MSPIX (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 0.10, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay MacKay Short Term Municipal Fund | 0.10 | 0.13 | 0.07 | 80 | Municipal Bonds | MSPIX vs MSTIX | |
| MainStay Short Term Bond Fund | 0.19 | 0.15 | 0.14 | 86 | Short-Term Bond | MSPIX vs MIXIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.27 | 0.13 | 0.12 | 70 | Large Cap Blend Equities | MSPIX vs SVPFX | |
| MainStay MacKay Strategic Bond Fund | 0.29 | 0.22 | 0.27 | 77 | Nontraditional Bonds | MSPIX vs MASAX | |
| MainStay Floating Rate Fund | 0.32 | 0.27 | 0.25 | 65 | Bank Loan | MSPIX vs MXFIX |
See all 52 diversifiers for MSPIX
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