Looking to diversify beyond MUBFX? The mutual funds below have the lowest correlation with MUBFX — 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 MUBFX.
Best Diversifiers for MUBFX
3 mutual funds have low correlation with MUBFX (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 0.12, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay MacKay Short Term Municipal Fund | 0.12 | 0.11 | 0.05 | 79 | Municipal Bonds | MUBFX vs MSTIX | |
| Vanguard New Jersey Long-Term Tax-Exempt Fund Inve... | 0.20 | 0.15 | 0.09 | 78 | Municipal Bonds | MUBFX vs VNJTX | |
| MainStay Floating Rate Fund | 0.22 | 0.24 | 0.24 | 64 | Bank Loan | MUBFX vs MXFIX | |
| MainStay MacKay High Yield Corporate Bond Fund Cla... | 0.45 | 0.50 | 0.51 | 83 | High Yield Bonds | MUBFX vs MHCAX | |
| Rational Equity Armor Fund | 0.47 | 0.54 | 0.68 | 55 | Large Cap Value Equities | MUBFX vs HDCTX |
See all 38 diversifiers for MUBFX
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