Looking to diversify beyond MYIIX? The mutual funds below have the lowest correlation with MYIIX — 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 MYIIX.
Best Diversifiers for MYIIX
2 mutual funds have low correlation with MYIIX (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 0.30, up from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay MacKay Short Term Municipal Fund | 0.30 | 0.19 | 0.13 | 79 | Municipal Bonds | MYIIX vs MSTIX | |
| MainStay Floating Rate Fund | 0.30 | 0.26 | 0.29 | 64 | Bank Loan | MYIIX vs MXFIX | |
| MainStay MacKay High Yield Corporate Bond Fund Cla... | 0.50 | 0.51 | 0.55 | 83 | High Yield Bonds | MYIIX vs MHCAX | |
| MainStay Epoch U.S. Equity Yield Fund | 0.52 | 0.56 | 0.63 | 84 | Large Cap Value Equities | MYIIX vs EPLCX | |
| NYLI S&P 500 Index Class A | 0.59 | 0.60 | 0.67 | 63 | S&P 500 | MYIIX vs MSXAX |
See all 25 diversifiers for MYIIX
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