Looking to diversify beyond NOIEX? The mutual funds below have the lowest correlation with NOIEX — 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 NOIEX.
Best Diversifiers for NOIEX
13 mutual funds have low correlation with NOIEX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) (Ultrashort Bond) with a 1Y correlation of 0.12, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Ultra Short-Term Bond Fund | 0.12 | 0.06 | 0.07 | 99 | Ultrashort Bond | NOIEX vs TRBUX | |
| Northern Ultra-Short Fixed Income Fund | 0.18 | 0.09 | 0.06 | 98 | Ultrashort Bond | NOIEX vs NUSFX | |
| T. Rowe Price Multi-Strategy Total Return Fund | 0.20 | 0.24 | 0.12 | 79 | Multistrategy | NOIEX vs TMSRX | |
| Northern Limited Term Tax-Exempt Fund | 0.20 | 0.16 | 0.11 | 66 | Municipal Bonds | NOIEX vs NSITX | |
| Northern Intermediate Tax Exempt Fund | 0.22 | 0.17 | 0.12 | 71 | Municipal Bonds | NOIEX vs NOITX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NOIEX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NOIEX and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lithium Americas Corp. | 0.31 | — | — | 68 | Basic Materials | |
| Cohen & Steers Infrastructure Fund, Inc | 0.31 | 0.35 | 0.46 | 69 | Financial Services |
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