Looking to diversify beyond NAC? The mutual funds below have the lowest correlation with NAC — 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 NAC.
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 Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.12, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.12 | 0.14 | 0.10 | 99 | Municipal Bonds | NAC vs FHMIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.12 | 0.26 | 0.26 | 99 | Municipal Bonds | NAC vs USMSX | |
| DFA Short Term Municipal Bond Portfolio | 0.13 | 0.15 | 0.21 | 99 | Municipal Bonds | NAC vs DFSMX | |
| DFA California Short Term Municipal Bond Portfolio | 0.13 | 0.18 | 0.25 | 99 | Municipal Bonds | NAC vs DFCMX | |
| abrdn Ultra Short Municipal Income Fund | 0.15 | 0.17 | 0.15 | 99 | Municipal Bonds | NAC vs ATOIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NAC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NAC and solid risk/return profiles. 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.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.56 | 0.66 | 0.62 | 78 | Financial Services |
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