Looking to diversify beyond NEFOX? The mutual funds below have the lowest correlation with NEFOX — 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 NEFOX.
Best Diversifiers for NEFOX
4 mutual funds have low correlation with NEFOX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Virginia Tax Free Bond Fund (PRVAX) (Municipal Bonds) with a 1Y correlation of 0.13, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Virginia Tax Free Bond Fund | 0.13 | 0.14 | 0.09 | 87 | Municipal Bonds | NEFOX vs PRVAX | |
| Loomis Sayles Limited Term Government And Agency F... | 0.20 | 0.12 | 0.06 | 52 | Government Bonds | NEFOX vs NEFLX | |
| Permanent Portfolio Versatile Bond Portfolio | 0.23 | 0.29 | 0.26 | 84 | Short-Term Bond | NEFOX vs PRVBX | |
| Rational Equity Armor Fund | 0.27 | 0.43 | 0.59 | 55 | Large Cap Value Equities | NEFOX vs HDCTX | |
| Loomis Sayles Senior Floating Rate and Fixed Incom... | 0.34 | 0.30 | 0.30 | 64 | Bank Loan | NEFOX vs LSFYX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NEFOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NEFOX and solid risk/return profiles. The least correlated is Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.02, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.02 | 0.18 | 0.37 | 75 | Technology | |
| NVIDIA Corporation | 0.03 | 0.17 | 0.40 | 76 | Technology | |
| Cirrus Logic, Inc. | 0.12 | 0.34 | 0.45 | 83 | Technology | |
| CrowdStrike Holdings, Inc. | 0.14 | 0.27 | 0.38 | 66 | Technology | |
| Apple Inc | 0.15 | 0.21 | 0.39 | 88 | Technology |
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