Looking to diversify beyond NAZ? The mutual funds below have the lowest correlation with NAZ — 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 NAZ.
Best Diversifiers for NAZ
24 mutual funds have low correlation with NAZ (below 0.3), 3 of which are negatively correlated. The least correlated is DFA NY Municipal Bond Portfolio (DNYMX) (Municipal Bonds) with a 1Y correlation of -0.02, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA NY Municipal Bond Portfolio | -0.02 | 0.14 | 0.20 | 99 | Municipal Bonds | NAZ vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | -0.02 | 0.09 | 0.14 | 99 | Municipal Bonds | NAZ vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | -0.01 | 0.14 | 0.16 | 99 | Municipal Bonds | NAZ vs USMSX | |
| DFA California Short Term Municipal Bond Portfolio | 0.02 | 0.13 | 0.16 | 99 | Municipal Bonds | NAZ vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.03 | 0.14 | 0.18 | 99 | Municipal Bonds | NAZ vs USMTX |
See all 24 diversifiers for NAZ
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