Looking to diversify beyond NMS? The mutual funds below have the lowest correlation with NMS — 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 NMS.
Best Diversifiers for NMS
17 mutual funds have low correlation with NMS (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Arizona Quality Municipal Income Fund (NAZ) (Municipal Bonds) with a 1Y correlation of 0.06, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Arizona Quality Municipal Income Fund | 0.06 | 0.34 | 0.30 | 50 | Municipal Bonds | NMS vs NAZ | |
| DFA California Short Term Municipal Bond Portfolio | 0.07 | 0.11 | 0.16 | 99 | Municipal Bonds | NMS vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 0.07 | 0.09 | 0.13 | 99 | Municipal Bonds | NMS vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.10 | 0.15 | 0.13 | 99 | Municipal Bonds | NMS vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.10 | 0.18 | 0.18 | 99 | Municipal Bonds | NMS vs DNYMX |
See all 22 diversifiers for NMS
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