Looking to diversify beyond NMI? The mutual funds below have the lowest correlation with NMI — 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 NMI.
Best Diversifiers for NMI
467 mutual funds have low correlation with NMI (below 0.3), 9 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.12, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.12 | 0.07 | 0.12 | 95 | Municipal Bonds | NMI vs DCARX | |
| DFA Municipal Real Return Portfolio | -0.09 | 0.06 | 0.11 | 94 | Municipal Bonds | NMI vs DMREX | |
| DFA NY Municipal Bond Portfolio | -0.05 | 0.12 | 0.17 | 99 | Municipal Bonds | NMI vs DNYMX | |
| JPMorgan Ultra-Short Municipal Fund | -0.05 | 0.11 | 0.15 | 99 | Municipal Bonds | NMI vs USMTX | |
| JPMorgan Ultra-Short Municipal Fund | -0.05 | 0.13 | 0.13 | 99 | Municipal Bonds | NMI vs USMSX |
See all 467 diversifiers for NMI
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