Looking to diversify beyond NMI? The mutual funds below have historically moved differently from NMI, 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 NMI
455 mutual funds have low correlation with NMI (below 0.3), 7 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.10, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.10 | 0.06 | 0.12 | 91 | Municipal Bonds | NMI vs DCARX | |
| JPMorgan Ultra-Short Municipal Fund | -0.08 | 0.11 | 0.13 | 98 | Municipal Bonds | NMI vs USMSX | |
| DFA Municipal Real Return Portfolio | -0.07 | 0.05 | 0.10 | 94 | Municipal Bonds | NMI vs DMREX | |
| DFA NY Municipal Bond Portfolio | -0.04 | 0.11 | 0.17 | 99 | Municipal Bonds | NMI vs DNYMX | |
| Nuveen Short Term Municipal Bond Fund | -0.01 | 0.17 | 0.20 | 66 | Municipal Bonds | NMI vs FSHYX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements NMI
Add NMI to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with NMI