Looking to diversify beyond NMZ? The mutual funds below have historically moved differently from NMZ, 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 NMZ
5 mutual funds have low correlation with NMZ (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Global Infrastructure Fund (FGIYX) (Infrastructure Equities) with a 1Y correlation of 0.09, down from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Global Infrastructure Fund | 0.09 | 0.31 | 0.30 | 68 | Infrastructure Equities, Energy Equities | NMZ vs FGIYX | |
| Nuveen Real Estate Securities Fund | 0.16 | 0.34 | 0.31 | 72 | REIT | NMZ vs FARCX | |
| Federated Hermes Municipal High Yield Advtg Fd | 0.25 | 0.41 | 0.41 | 95 | High Yield Muni | NMZ vs FHTFX | |
| Nuveen Mid Cap Value Fund | 0.26 | 0.31 | 0.28 | 84 | Mid Cap Value Equities | NMZ vs FASEX | |
| Nuveen Equity Index Fund Class I | 0.30 | 0.31 | 0.29 | 63 | Large Cap Blend Equities | NMZ vs TIEIX |
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