Looking to diversify beyond MYIIX? The mutual funds below have historically moved differently from MYIIX, 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 MYIIX
2 mutual funds have low correlation with MYIIX (below 0.3), 0 of which are negatively correlated. The least correlated is MainStay CBRE Real Estate Fund (CRARX) (REIT) with a 1Y correlation of 0.22, down from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay CBRE Real Estate Fund | 0.22 | 0.37 | 0.46 | 53 | REIT | MYIIX vs CRARX | |
| MainStay Floating Rate Fund | 0.28 | 0.24 | 0.28 | 69 | Bank Loan | MYIIX vs MXFIX | |
| MainStay MacKay Short Term Municipal Fund | 0.30 | 0.19 | 0.14 | 74 | Municipal Bonds | MYIIX vs MSTIX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.36 | 0.62 | 0.73 | 61 | Foreign Large Cap Equities | MYIIX vs GSINX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.37 | 0.63 | 0.73 | 61 | Foreign Large Cap Equities | MYIIX vs GSIMX |
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