Looking to diversify beyond NCV? The mutual funds below have historically moved differently from NCV, 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 NCV
5 mutual funds have low correlation with NCV (below 0.3), 0 of which are negatively correlated. The least correlated is Neuberger Berman MLP (NML) (MLPs) with a 1Y correlation of 0.08, down from 0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Neuberger Berman MLP | 0.08 | 0.30 | 0.38 | 71 | MLPs, Energy Equities | NCV vs NML | |
| Virtus Duff & Phelps Real Estate Securities Fund | 0.15 | 0.35 | 0.45 | 68 | REIT | NCV vs PHRAX | |
| Virtus Seix Floating Rate High Income Fund | 0.24 | 0.29 | 0.35 | 98 | Bank Loan | NCV vs SAMBX | |
| Lazard Enhanced Opportunities Portfolio Open Share... | 0.24 | 0.07 | 0.16 | 75 | Convertible Bonds | NCV vs LEOOX | |
| The Merger Fund | 0.25 | 0.22 | 0.28 | 96 | Event Driven | NCV vs MERFX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NCV, 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 0.28, roughly unchanged from 0.35 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 | 0.28 | 0.34 | 0.35 | 79 | Financial Services | |
| Strategy Inc Variable Rate Series A Perpetual Stre... | 0.29 | 0.29 | 0.29 | 57 | Technology | |
| AGNC Investment Corp. | 0.31 | 0.37 | 0.42 | 79 | Real Estate | |
| Reaves Utility Income Trust | 0.46 | 0.40 | 0.44 | 55 | Financial Services | |
| BlackRock Science and Technology Term Trust | 0.64 | 0.58 | 0.62 | 87 | Financial Services |
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