Looking to diversify beyond NLCAX? The mutual funds below have historically moved differently from NLCAX, 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 NLCAX
3 mutual funds have low correlation with NLCAX (below 0.3), 2 of which are negatively correlated. The least correlated is Voya Corporate Leaders Trust Fund (LEXCX) (Large Cap Value Equities) with a 1Y correlation of -0.19, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Voya Corporate Leaders Trust Fund | -0.19 | 0.10 | 0.32 | 93 | Large Cap Value Equities | NLCAX vs LEXCX | |
| MFS Commodity Strategy Fund | -0.03 | 0.06 | 0.10 | 69 | Commodities | NLCAX vs MCSFX | |
| MFS Value Fund Class I | 0.20 | 0.33 | 0.54 | 69 | Large Cap Value Equities | NLCAX vs MEIIX | |
| Dodge & Cox Stock Fund Class I | 0.30 | 0.44 | 0.61 | 56 | Large Cap Value Equities | NLCAX vs DODGX | |
| Voya International High Dividend Low Volatility Po... | 0.37 | 0.37 | 0.49 | 89 | Foreign Large Cap Equities, Low Volatility | NLCAX vs IFTIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NLCAX, 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 Inventrust Properties Corp (IVT) (Real Estate) with a 1Y correlation of -0.08, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Inventrust Properties Corp | -0.08 | 0.11 | 0.24 | 90 | Real Estate | |
| Xenia Hotels & Resorts, Inc. | 0.12 | 0.29 | 0.41 | 93 | Real Estate |
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