Looking to diversify beyond NEFZX? The mutual funds below have historically moved differently from NEFZX, 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 NEFZX
2 mutual funds have low correlation with NEFZX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of 0.15, roughly unchanged from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.15 | 0.27 | 0.21 | 99 | Multisector Bonds | NEFZX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.29 | 0.29 | 0.21 | 99 | Multisector Bonds | NEFZX vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.33 | 0.28 | 0.29 | 96 | Multisector Bonds | NEFZX vs CBLDX | |
| Invesco Developing Markets Fund | 0.45 | 0.31 | 0.39 | 72 | Emerging Markets Equities | NEFZX vs ODMAX | |
| Franklin Income Fund Class A1 | 0.48 | 0.55 | 0.63 | 87 | Diversified Portfolio | NEFZX vs FKINX |
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