Looking to diversify beyond NKX? The mutual funds below have the lowest correlation with NKX — 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 NKX.
Best Diversifiers for NKX
14 mutual funds have low correlation with NKX (below 0.3), 0 of which are negatively correlated. The least correlated is abrdn Ultra Short Municipal Income Fund (ATOIX) (Municipal Bonds) with a 1Y correlation of 0.06, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 0.06 | 0.08 | 0.07 | 99 | Municipal Bonds | NKX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 0.07 | 0.08 | 0.15 | 100 | Municipal Bonds | NKX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.08 | 0.17 | 0.21 | 99 | Municipal Bonds | NKX vs USMTX | |
| JPMorgan Ultra-Short Municipal Fund | 0.10 | 0.17 | 0.19 | 99 | Municipal Bonds | NKX vs USMSX | |
| Federated Hermes Conservative Municipal Microshort... | 0.11 | 0.15 | 0.11 | 99 | Municipal Bonds | NKX vs FHMIX |
See all 21 diversifiers for NKX
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