Looking to diversify beyond NMAI? The mutual funds below have the lowest correlation with NMAI — 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 NMAI.
Best Diversifiers for NMAI
5 mutual funds have low correlation with NMAI (below 0.3), 0 of which are negatively correlated. The least correlated is LoCorr Macro Strategies Fund Class I (LFMIX) (Global Allocation) with a 1Y correlation of 0.16, up from 0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| LoCorr Macro Strategies Fund Class I | 0.16 | 0.02 | — | 87 | Global Allocation | NMAI vs LFMIX | |
| Hartford Real Asset Fund | 0.22 | 0.38 | — | 88 | Global Allocation | NMAI vs HRLYX | |
| Allspring Absolute Return Fund | 0.25 | 0.42 | — | 87 | Global Allocation | NMAI vs WARAX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.26 | 0.20 | — | 65 | High Yield Muni | NMAI vs NVHIX | |
| Nuveen High Yield Municipal Bond Fund | 0.29 | 0.25 | — | 61 | High Yield Muni | NMAI vs NHMRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NMAI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NMAI and solid risk/return profiles. The least correlated is AST SpaceMobile, Inc. (ASTS) (Technology) with a 1Y correlation of 0.18, roughly unchanged from 0.27 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AST SpaceMobile, Inc. | 0.18 | 0.27 | — | 56 | Technology | |
| Rocket Lab USA, Inc. | 0.25 | 0.30 | — | 84 | Industrials | |
| DBS Group Holdings Ltd ADR | 0.29 | 0.27 | 0.34 | 96 | Financial Services | |
| Bloom Energy Corporation | 0.29 | 0.31 | 0.40 | 99 | Industrials | |
| Trinity Capital Inc. | 0.30 | 0.32 | — | 88 | Financial Services |
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