Looking to diversify beyond NHMFX? The mutual funds below have the lowest correlation with NHMFX — 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 NHMFX.
Best Diversifiers for NHMFX
4 mutual funds have low correlation with NHMFX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Equity Long/Short Fund (NELIX) (Long-Short) with a 1Y correlation of 0.14, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Equity Long/Short Fund | 0.14 | 0.08 | 0.08 | 58 | Long-Short | NHMFX vs NELIX | |
| Nuveen Mid Cap Value Fund | 0.19 | 0.14 | 0.10 | 81 | Mid Cap Value Equities | NHMFX vs FASEX | |
| Nuveen Equity Index Fund Class I | 0.19 | 0.14 | 0.13 | 64 | Large Cap Blend Equities | NHMFX vs TIEIX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.22 | 0.14 | 0.15 | 62 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | NHMFX vs QQQX | |
| Nuveen New York AMT Free Quality Municipal Income | 0.46 | 0.51 | 0.47 | 66 | Municipal Bonds | NHMFX vs NRK |
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