Looking to diversify beyond GMXAX? The mutual funds below have historically moved differently from GMXAX, 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 GMXAX
3 mutual funds have low correlation with GMXAX (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 0.11, up from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Amundi Strategic Income Fund | 0.11 | 0.07 | -0.01 | 99 | Multisector Bonds | GMXAX vs NWXHX | |
| Nationwide Strategic Income A | 0.16 | 0.09 | 0.00 | 99 | Multisector Bonds | GMXAX vs NWXEX | |
| Nationwide Loomis Short Term Bond Fund | 0.23 | 0.18 | 0.16 | 89 | Short-Term Bond | GMXAX vs NWJVX | |
| Nationwide International Small Cap Fund | 0.68 | 0.69 | 0.74 | 63 | Foreign Small & Mid Cap Equities | GMXAX vs NWXVX | |
| Nationwide International Index Fund | 0.69 | 0.68 | 0.73 | 63 | Foreign Large Cap Equities | GMXAX vs GIIAX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements GMXAX
Add GMXAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with GMXAX