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Northern Income Equity Fund (NOIEX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 11, 2026

In seeking to achieve its investment objective, the fund will, under normal circumstances, invest at least 80% of its net assets in income-producing equity securities, including dividend-paying common and preferred stocks. It seeks to provide a high level of current income relative to other mutual funds that invest in equity securities. The fund may use derivatives such as stock index futures contracts to equitize cash and enhance portfolio liquidity.

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

14 mutual funds have low correlation with NOIEX (below 0.3), 0 of which are negatively correlated. The least correlated is Voya Corporate Leaders Trust Fund (LEXCX) (Large Cap Value Equities) with a 1Y correlation of 0.06, down from 0.55 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
LEXCX
Voya Corporate Leaders Trust Fund0.060.360.55
68
Large Cap Value EquitiesNOIEX vs LEXCX
TRBUX
T. Rowe Price Ultra Short-Term Bond Fund0.120.070.07
99
Ultrashort BondNOIEX vs TRBUX
NUSFX
Northern Ultra-Short Fixed Income Fund0.160.090.05
98
Ultrashort BondNOIEX vs NUSFX
NSITX
Northern Limited Term Tax-Exempt Fund0.200.170.11
67
Municipal BondsNOIEX vs NSITX
NOITX
Northern Intermediate Tax Exempt Fund0.220.170.13
73
Municipal BondsNOIEX vs NOITX
See all 116 diversifiers for NOIEX

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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. The least correlated is Cohen & Steers Infrastructure Fund, Inc (UTF) (Financial Services) with a 1Y correlation of 0.28, down from 0.45 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
UTF
Cohen & Steers Infrastructure Fund, Inc0.280.340.45
71
Financial Services

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Diversification Analysis

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