Looking to diversify beyond MVCAX? The mutual funds below have the lowest correlation with MVCAX — 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 MVCAX.
Best Diversifiers for MVCAX
6 mutual funds have low correlation with MVCAX (below 0.3), 0 of which are negatively correlated. The least correlated is MFS California Municipal Bond Fund (MCFTX) (Municipal Bonds) with a 1Y correlation of 0.19, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MFS California Municipal Bond Fund | 0.19 | 0.17 | 0.11 | 66 | Municipal Bonds | MVCAX vs MCFTX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.19 | 0.23 | 0.14 | 98 | Nontraditional Bonds | MVCAX vs EGRIX | |
| American Funds Tax-Exempt Fund of California | 0.21 | 0.16 | 0.10 | 70 | Municipal Bonds | MVCAX vs TAFTX | |
| Columbia Strategic Municipal Income Fund | 0.22 | 0.16 | 0.10 | 72 | Municipal Bonds | MVCAX vs INTAX | |
| Columbia High Yield Municipal Fund | 0.22 | 0.15 | 0.10 | 83 | High Yield Muni | MVCAX vs SRHMX |
See all 49 diversifiers for MVCAX
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