Looking to diversify beyond NJTFX? The mutual funds below have historically moved differently from NJTFX, 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 NJTFX
13 mutual funds have low correlation with NJTFX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.01, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.01 | 0.17 | 0.22 | 91 | Municipal Bonds | NJTFX vs DCARX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.09 | 0.22 | 0.19 | 99 | Municipal Bonds | NJTFX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.12 | 0.17 | 0.14 | 99 | Municipal Bonds | NJTFX vs FHMIX | |
| DFA Short Term Municipal Bond Portfolio | 0.17 | 0.24 | 0.34 | 100 | Municipal Bonds | NJTFX vs DFSMX | |
| Fidelity ZERO Total Market Index Fund | 0.19 | 0.16 | 0.14 | 64 | Large Cap Blend Equities | NJTFX vs FZROX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements NJTFX
Add NJTFX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with NJTFX