Looking to diversify beyond NEFOX? The mutual funds below have historically moved differently from NEFOX, 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 NEFOX
6 mutual funds have low correlation with NEFOX (below 0.3), 0 of which are negatively correlated. The least correlated is AMG Yacktman Focused Fund (YAFFX) (Large Cap Value Equities) with a 1Y correlation of 0.14, down from 0.68 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AMG Yacktman Focused Fund | 0.14 | 0.48 | 0.68 | 89 | Large Cap Value Equities | NEFOX vs YAFFX | |
| GQG Partners US Quality Dividend Income Fund | 0.15 | 0.42 | 0.57 | 62 | Quality Factor, Large Cap Value Equities | NEFOX vs GQHPX | |
| T. Rowe Virginia Tax Free Bond Fund | 0.15 | 0.15 | 0.10 | 91 | Municipal Bonds | NEFOX vs PRVAX | |
| Loomis Sayles Limited Term Government And Agency F... | 0.19 | 0.12 | 0.07 | 67 | Government Bonds | NEFOX vs NEFLX | |
| Permanent Portfolio Versatile Bond Portfolio | 0.24 | 0.28 | 0.27 | 78 | Short-Term Bond | NEFOX vs PRVBX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NEFOX, 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 Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.06, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.06 | 0.16 | 0.36 | 67 | Technology | |
| Occidental Petroleum Corporation | -0.03 | 0.22 | 0.37 | 70 | Energy | |
| NVIDIA Corporation | -0.02 | 0.14 | 0.39 | 56 | Technology | |
| Cirrus Logic, Inc. | 0.07 | 0.32 | 0.44 | 68 | Technology | |
| McKesson Corporation | 0.13 | 0.06 | 0.16 | 67 | Healthcare |
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