Looking to diversify beyond NHMAX? The mutual funds below have historically moved differently from NHMAX, 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 NHMAX
4 mutual funds have low correlation with NHMAX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) (Derivative Income) with a 1Y correlation of 0.20, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.20 | 0.14 | 0.15 | 58 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | NHMAX vs QQQX | |
| Nuveen Global Infrastructure Fund | 0.23 | 0.26 | 0.23 | 68 | Infrastructure Equities, Energy Equities | NHMAX vs FGIYX | |
| Nuveen Mid Cap Value Fund | 0.25 | 0.13 | 0.10 | 84 | Mid Cap Value Equities | NHMAX vs FASEX | |
| Nuveen Equity Index Fund Class I | 0.26 | 0.14 | 0.13 | 63 | Large Cap Blend Equities | NHMAX vs TIEIX | |
| Nuveen Real Estate Securities Fund | 0.31 | 0.27 | 0.24 | 72 | REIT | NHMAX vs FARCX |
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