Looking to diversify beyond NJTFX? The mutual funds below have the lowest correlation with NJTFX — 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 NJTFX.
Best Diversifiers for NJTFX
16 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 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.01 | 0.18 | 0.21 | 95 | Municipal Bonds | NJTFX vs DCARX | |
| DFA Short Term Municipal Bond Portfolio | 0.09 | 0.23 | 0.34 | 99 | Municipal Bonds | NJTFX vs DFSMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.12 | 0.21 | 0.19 | 99 | Municipal Bonds | NJTFX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.13 | 0.17 | 0.14 | 99 | Municipal Bonds | NJTFX vs FHMIX | |
| T. Rowe Price Science And Technology Fund | 0.14 | 0.08 | 0.11 | 87 | Technology Equities | NJTFX vs PRSCX |
See all 70 diversifiers for NJTFX
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