Looking to diversify beyond NCBVX? The mutual funds below have historically moved differently from NCBVX, 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 NCBVX
2 mutual funds have low correlation with NCBVX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Municipal Ultra Short Fund (FMUSX) (Municipal Bonds) with a 1Y correlation of 0.07, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Municipal Ultra Short Fund | 0.07 | 0.11 | 0.06 | 83 | Municipal Bonds | NCBVX vs FMUSX | |
| PGIM Floating Rate Income Fund | 0.21 | 0.30 | 0.31 | 95 | Bank Loan | NCBVX vs FRFZX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.35 | 0.46 | 0.63 | 98 | NCBVX vs CMNIX | ||
| Putnam Global Health Care Fund | 0.43 | 0.50 | 0.53 | 63 | Health & Biotech Equities | NCBVX vs PHSTX | |
| Putnam International Equity Fund | 0.65 | 0.64 | 0.69 | 56 | Foreign Large Cap Equities | NCBVX vs POVSX |
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