The present work suggests that high-speed cellular 5G sub-6 GHz and Wireless Local Area (WLAN) applications demand for a compact Multiple Input Multiple Output (MIMO) diversity antenna. N77, N78, and N79 are New Radio (NR) bands included in the 5G sub-6 GHz, as well as WLAN standards Wi-Fi 5 and Wi-Fi 6. The proposed MIMO diversity antenna is designed using low-cost FR4 dielectric material with a height of 1.6 mm. The FR4 material dimensions are 25 x 30 mm(2) (0.258 x 0.310 lambda(2)(0), lambda(0) is at working band lower frequency). The proposed MIMO diversity antenna achieves isolation of more than 18 dB over the whole working region and operates in the 3.12 to 7.12 GHz frequency range. High isolation characteristics are accomplished by properly optimizing the stub parameters that are placed between the antenna elements. The radiation performance metrics radiation efficiency, peak gain and field patterns are checked and analyzed. The radiation efficiency and peak gain values are greater than 95% and 2.6 dBi, respectively. The values of the diversity parameters Envelope Correlation Coefficient (ECC) (< 0.005), Diversity Gain (> 9.99 dB), Total Active Reflection coefficient (TARC) (< 10 dB), Channel Capacity Losses (< 0.05 bits/s/Hz), and Mean Effective Gain (< -- 3 dB) are simulated and compared with measured values. A good agreement is attained with all measured results when comparing with simulated ones. Based on the all the results, the proposed MIMO diversity antenna well suited for high speed cellular 5G applications and WLAN applications.