Looking to diversify beyond NIE? The mutual funds below have historically moved differently from NIE, 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 NIE
4 mutual funds have low correlation with NIE (below 0.3), 0 of which are negatively correlated. The least correlated is Virtus Duff & Phelps Real Estate Securities Fund (PHRAX) (REIT) with a 1Y correlation of 0.16, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus Duff & Phelps Real Estate Securities Fund | 0.16 | 0.36 | 0.48 | 68 | REIT | NIE vs PHRAX | |
| Cullen Enhanced Equity Income Fund | 0.18 | 0.34 | 0.49 | 52 | Derivative Income | NIE vs ENHNX | |
| Virtus Seix Floating Rate High Income Fund | 0.27 | 0.27 | 0.30 | 98 | Bank Loan | NIE vs SAMBX | |
| The Merger Fund | 0.27 | 0.25 | 0.32 | 96 | Event Driven | NIE vs MERFX | |
| The Covered Bridge Fund | 0.30 | 0.42 | 0.55 | 83 | Derivative Income | NIE vs TCBIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NIE, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is DNP Select Income Fund Inc. (DNP) (Financial Services) with a 1Y correlation of 0.17, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| DNP Select Income Fund Inc. | 0.17 | 0.25 | 0.32 | 89 | Financial Services | |
| BlackRock Science and Technology Term Trust | 0.70 | 0.71 | 0.75 | 87 | Financial Services | |
| Abrdn Total Dynamic Dividend Fund | 0.71 | 0.70 | 0.74 | 88 | Financial Services | |
| BlackRock Science and Technology Trust | 0.78 | 0.73 | 0.78 | 80 | Financial Services |
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