Looking to diversify beyond MSTIX? The mutual funds below have historically moved differently from MSTIX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for MSTIX
24 mutual funds have low correlation with MSTIX (below 0.3), 1 of which are negatively correlated. The least correlated is MainStay Cushing MLP Premier Fund (CSHZX) (Energy Equities) with a 1Y correlation of -0.17, down from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay Cushing MLP Premier Fund | -0.17 | 0.01 | 0.00 | 77 | Energy Equities | MSTIX vs CSHZX | |
| DFA California Municipal Real Return Portfolio | 0.03 | 0.17 | 0.20 | 91 | Municipal Bonds | MSTIX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.09 | 0.24 | 0.25 | 94 | Municipal Bonds | MSTIX vs DMREX | |
| MainStay WMC Value Fund | 0.12 | 0.11 | 0.05 | 84 | Large Cap Value Equities | MSTIX vs MUBFX | |
| MainStay S&P 500 Index Fund | 0.16 | 0.13 | 0.08 | 58 | Large Cap Blend Equities | MSTIX vs MSPIX |
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