Looking to diversify beyond NDAAX? The mutual funds below have historically moved differently from NDAAX, 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 NDAAX
4 mutual funds have low correlation with NDAAX (below 0.3), 2 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.21, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.21 | -0.03 | 0.09 | 83 | Diversified Portfolio | NDAAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | -0.02 | 0.13 | 0.50 | 66 | Diversified Portfolio | NDAAX vs MHELX | |
| Nationwide Strategic Income A | 0.22 | 0.11 | 0.04 | 99 | Multisector Bonds | NDAAX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.24 | 0.13 | 0.05 | 99 | Multisector Bonds | NDAAX vs NWXHX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.37 | 0.55 | 0.61 | 89 | Diversified Portfolio | NDAAX vs FCSRX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NDAAX, 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 Rocket Lab USA, Inc. (RKLB) (Industrials) with a 1Y correlation of 0.45, roughly unchanged from 0.48 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Rocket Lab USA, Inc. | 0.45 | 0.48 | — | 62 | Industrials |
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