Looking to diversify beyond NMS? The mutual funds below have historically moved differently from NMS, 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 NMS
22 mutual funds have low correlation with NMS (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.09 | 0.02 | 0.03 | 99 | Municipal Bonds | NMS vs TFCYX | |
| DFA California Short Term Municipal Bond Portfolio | 0.10 | 0.11 | 0.16 | 99 | Municipal Bonds | NMS vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 0.11 | 0.18 | 0.17 | 99 | Municipal Bonds | NMS vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 0.12 | 0.09 | 0.13 | 100 | Municipal Bonds | NMS vs DFSMX | |
| Nuveen Massachusetts Quality Municipal Income Fund | 0.12 | 0.35 | 0.30 | 78 | Municipal Bonds | NMS vs NMT |
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