Looking to diversify beyond NMAVX? The mutual funds below have historically moved differently from NMAVX, 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 NMAVX
0 mutual funds have low correlation with NMAVX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco V.I. American Value Fund (UMCVX) (Mid Cap Value Equities) with a 1Y correlation of 0.32, down from 0.63 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco V.I. American Value Fund | 0.32 | 0.52 | 0.63 | 72 | Mid Cap Value Equities | NMAVX vs UMCVX | |
| Invesco Value Opportunities Fund Class Y | 0.32 | 0.52 | 0.62 | 74 | Mid Cap Value Equities | NMAVX vs VVOIX | |
| Invesco Value Opportunities Fund | 0.35 | 0.53 | 0.63 | 74 | Mid Cap Value Equities | NMAVX vs VVOAX | |
| Virtus Ceredex Mid-Cap Value Equity Fund | 0.38 | 0.61 | 0.72 | 76 | Mid Cap Value Equities | NMAVX vs SMVTX | |
| Glenmede Quantitative U.S. Total Market Equity Por... | 0.44 | 0.62 | 0.69 | 80 | Mid Cap Value Equities | NMAVX vs GTTMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NMAVX, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.37, down from 0.59 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.37 | 0.49 | 0.59 | 61 | Financial Services |
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