Looking to diversify beyond NOITX? The mutual funds below have the lowest correlation with NOITX — 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 NOITX.
Best Diversifiers for NOITX
17 mutual funds have low correlation with NOITX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.02, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.02 | 0.10 | 0.08 | 98 | Municipal Bonds | NOITX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.05 | 0.11 | 0.10 | 98 | Municipal Bonds | NOITX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | 0.12 | 0.13 | 0.15 | 99 | Municipal Bonds | NOITX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | 0.15 | 0.09 | 0.20 | 98 | Municipal Bonds | NOITX vs APUSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.17 | 0.29 | 0.36 | 99 | Municipal Bonds | NOITX vs USMSX |
See all 24 diversifiers for NOITX
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