Looking to diversify beyond MYI? The mutual funds below have historically moved differently from MYI, 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 MYI
18 mutual funds have low correlation with MYI (below 0.3), 3 of which are negatively correlated. The least correlated is Virtus AlphaSimplex Managed Futures Strategy Fund Class I (ASFYX) (Systematic Trend) with a 1Y correlation of -0.04, up from -0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | -0.04 | -0.07 | -0.19 | 63 | Systematic Trend | MYI vs ASFYX | |
| DFA California Municipal Real Return Portfolio | -0.04 | 0.09 | 0.16 | 88 | Municipal Bonds | MYI vs DCARX | |
| BlackRock Global Equity Market Neutral Fund Class ... | -0.02 | 0.02 | 0.04 | 98 | Equity Market Neutral | MYI vs BDMIX | |
| DFA Municipal Real Return Portfolio | 0.00 | 0.08 | 0.17 | 91 | Municipal Bonds | MYI vs DMREX | |
| Federated Hermes Conservative Municipal Microshort... | 0.09 | 0.11 | 0.09 | 99 | Municipal Bonds | MYI vs FHMIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MYI, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.35 | 0.34 | 0.32 | 88 | ||
| Nuveen AMT-Free Quality Municipal Income Fund | 0.58 | 0.68 | 0.69 | 76 | Financial Services | |
| Nuveen AMT-Free Municipal Credit Income Fund | 0.64 | 0.70 | 0.69 | 75 | Financial Services |
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