Looking to diversify beyond NELIX? The mutual funds below have historically moved differently from NELIX, 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 NELIX
43 mutual funds have low correlation with NELIX (below 0.3), 2 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.11, down from 0.06 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.11 | 0.06 | — | 54 | Long-Short | NELIX vs QAMNX | |
| Knights of Columbus Long/Short Equity Fund | -0.10 | 0.24 | 0.24 | 96 | Long-Short | NELIX vs KCEIX | |
| Vanguard Market Neutral Fund Institutional Shares | 0.07 | 0.05 | 0.06 | 97 | Long-Short | NELIX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | 0.08 | 0.06 | 0.06 | 97 | Long-Short | NELIX vs VMNFX | |
| Nuveen Real Estate Securities Fund | 0.11 | 0.29 | 0.46 | 72 | REIT | NELIX vs FARCX |
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