Looking to diversify beyond NDAAX? The mutual funds below have the lowest correlation with NDAAX — 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 NDAAX.
Best Diversifiers for NDAAX
3 mutual funds have low correlation with NDAAX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.00, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.00 | 0.16 | 0.52 | 67 | Diversified Portfolio | NDAAX vs MHELX | |
| Nationwide Amundi Strategic Income Fund | 0.15 | 0.12 | 0.05 | 99 | Multisector Bonds | NDAAX vs NWXHX | |
| Nationwide Strategic Income A | 0.19 | 0.12 | 0.05 | 99 | Multisector Bonds | NDAAX vs NWXEX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.57 | 0.62 | 82 | Diversified Portfolio | NDAAX vs FCSRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.57 | 0.62 | 86 | Diversified Portfolio | NDAAX vs FSIRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NDAAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NDAAX and solid risk/return profiles. The least correlated is Rocket Lab USA, Inc. (RKLB) (Industrials) with a 1Y correlation of 0.43, roughly unchanged from 0.49 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Rocket Lab USA, Inc. | 0.43 | 0.49 | — | 90 | Industrials |
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