Looking to diversify beyond NDMAX? The mutual funds below have the lowest correlation with NDMAX — 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 NDMAX.
Best Diversifiers for NDMAX
4 mutual funds have low correlation with NDMAX (below 0.3), 1 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 -0.18, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.18 | 0.02 | 0.13 | 76 | Diversified Portfolio | NDMAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.02 | 0.20 | 0.53 | 63 | Diversified Portfolio | NDMAX vs MHELX | |
| Nationwide Strategic Income A | 0.10 | 0.12 | 0.04 | 99 | Multisector Bonds | NDMAX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.10 | 0.13 | 0.05 | 99 | Multisector Bonds | NDMAX vs NWXHX | |
| Nationwide Loomis Short Term Bond Fund | 0.32 | 0.27 | 0.25 | 82 | Short-Term Bond | NDMAX vs NWJVX |
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