Looking to diversify beyond NGRRX? The mutual funds below have historically moved differently from NGRRX, 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 NGRRX
1 mutual funds have low correlation with NGRRX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) (High Yield Muni) with a 1Y correlation of 0.28, up from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.28 | 0.16 | 0.13 | 88 | High Yield Muni | NGRRX vs NVHIX | |
| Nuveen High Yield Municipal Bond Fund | 0.34 | 0.20 | 0.16 | 85 | High Yield Muni | NGRRX vs NHMRX | |
| Nuveen Real Estate Securities Fund | 0.39 | 0.46 | 0.51 | 71 | REIT | NGRRX vs FARCX | |
| Nuveen Preferred Securities & Income Fund | 0.49 | 0.42 | 0.44 | 69 | Preferred Stock | NGRRX vs NPSRX | |
| Federated Hermes International Strategic Value Div... | 0.54 | 0.61 | 0.71 | 88 | Foreign Large Cap Equities | NGRRX vs IVFIX |
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