Looking to diversify beyond NMT? The mutual funds below have historically moved differently from NMT, 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 NMT
22 mutual funds have low correlation with NMT (below 0.3), 2 of which are negatively correlated. The least correlated is JPMorgan Ultra-Short Municipal Fund (USMSX) (Municipal Bonds) with a 1Y correlation of -0.02, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Ultra-Short Municipal Fund | -0.02 | 0.15 | 0.18 | 98 | Municipal Bonds | NMT vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | -0.01 | 0.14 | 0.20 | 98 | Municipal Bonds | NMT vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.03 | 0.11 | 0.18 | 100 | Municipal Bonds | NMT vs DFSMX | |
| RiverNorth Opportunistic Municipal Income Fund | 0.05 | 0.32 | 0.25 | 69 | Municipal Bonds | NMT vs RMI | |
| AllianceBernstein National Municipal Income Fund | 0.08 | 0.34 | 0.37 | 56 | Municipal Bonds | NMT vs AFB |
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