Looking to diversify beyond NAC? The mutual funds below have historically moved differently from NAC, 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 NAC
13 mutual funds have low correlation with NAC (below 0.3), 0 of which are negatively correlated. The least correlated is abrdn Ultra Short Municipal Income Fund (ATOIX) (Municipal Bonds) with a 1Y correlation of 0.12, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 0.12 | 0.17 | 0.15 | 100 | Municipal Bonds | NAC vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 0.14 | 0.16 | 0.21 | 100 | Municipal Bonds | NAC vs DFSMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.14 | 0.15 | 0.12 | 99 | Municipal Bonds | NAC vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.16 | 0.14 | 0.10 | 99 | Municipal Bonds | NAC vs FHMIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.17 | 0.25 | 0.27 | 98 | Municipal Bonds | NAC vs USMSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NAC, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Nuveen AMT-Free Municipal Credit Income Fund (NVG) (Financial Services) with a 1Y correlation of 0.56, roughly unchanged from 0.62 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.56 | 0.65 | 0.62 | 79 | Financial Services |
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