Looking to diversify beyond GMRAX? The mutual funds below have the lowest correlation with GMRAX — 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 GMRAX.
Best Diversifiers for GMRAX
3 mutual funds have low correlation with GMRAX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Amundi Strategic Income Fund (NWXHX) (Multisector Bonds) with a 1Y correlation of 0.08, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Amundi Strategic Income Fund | 0.08 | 0.07 | -0.01 | 99 | Multisector Bonds | GMRAX vs NWXHX | |
| Nationwide Strategic Income A | 0.18 | 0.09 | 0.01 | 99 | Multisector Bonds | GMRAX vs NWXEX | |
| Nationwide Loomis Short Term Bond Fund | 0.21 | 0.18 | 0.17 | 81 | Short-Term Bond | GMRAX vs NWJVX | |
| Nationwide Investor Destinations Conservative Fund | 0.69 | 0.61 | 0.62 | 56 | Diversified Portfolio | GMRAX vs NDCAX | |
| Nationwide Bailard International Equities Fund | 0.71 | 0.67 | 0.70 | 62 | Foreign Large Cap Equities | GMRAX vs NWHLX |
See all 51 diversifiers for GMRAX
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