Looking to diversify beyond GRMRX? The mutual funds below have historically moved differently from GRMRX, 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 GRMRX
2 mutual funds have low correlation with GRMRX (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 0.24, 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 | 0.24 | 0.11 | 0.01 | 99 | Multisector Bonds | GRMRX vs NWXHX | |
| Nationwide Strategic Income A | 0.25 | 0.08 | -0.00 | 99 | Multisector Bonds | GRMRX vs NWXEX | |
| Invesco Equally-Weighted S&P 500 Fund | 0.70 | 0.78 | 0.86 | 69 | S&P 500 | GRMRX vs VADDX | |
| Nationwide Mid Cap Market Index Fund | 0.76 | 0.79 | 0.84 | 50 | Mid Cap Blend Equities | GRMRX vs GMXAX | |
| Nationwide International Index Fund | 0.78 | 0.71 | 0.75 | 63 | Foreign Large Cap Equities | GRMRX vs GIIAX |
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