Looking to diversify beyond NBB? The mutual funds below have historically moved differently from NBB, 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 NBB
1 mutual funds have low correlation with NBB (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) (Derivative Income) with a 1Y correlation of 0.29, roughly unchanged from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.29 | 0.25 | 0.25 | 58 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | NBB vs QQQX | |
| Nuveen Mid Cap Value Fund | 0.31 | 0.28 | 0.22 | 84 | Mid Cap Value Equities | NBB vs FASEX | |
| Nuveen Equity Index Fund Class I | 0.34 | 0.26 | 0.23 | 63 | Large Cap Blend Equities | NBB vs TIEIX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.36 | 0.34 | 0.27 | 91 | High Yield Muni | NBB vs NVHIX | |
| Nuveen California Quality Municipal Income Fund | 0.37 | 0.48 | 0.46 | 82 | Municipal Bonds | NBB vs NAC |
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