Looking to diversify beyond NIM? The mutual funds below have historically moved differently from NIM, 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 NIM
20 mutual funds have low correlation with NIM (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Short Term Municipal Bond Portfolio (DFSMX) (Municipal Bonds) with a 1Y correlation of 0.06, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.06 | 0.06 | 0.11 | 100 | Municipal Bonds | NIM vs DFSMX | |
| Nuveen Real Estate Securities Fund | 0.07 | 0.24 | 0.23 | 72 | REIT | NIM vs FARCX | |
| JPMorgan Ultra-Short Municipal Fund | 0.08 | 0.11 | 0.13 | 98 | Municipal Bonds | NIM vs USMSX | |
| Nuveen Massachusetts Quality Municipal Income Fund | 0.10 | 0.30 | 0.27 | 78 | Municipal Bonds | NIM vs NMT | |
| DFA NY Municipal Bond Portfolio | 0.10 | 0.12 | 0.15 | 99 | Municipal Bonds | NIM vs DNYMX |
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