Looking to diversify beyond NOMIX? The mutual funds below have historically moved differently from NOMIX, 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 NOMIX
7 mutual funds have low correlation with NOMIX (below 0.3), 0 of which are negatively correlated. The least correlated is Northern Ultra-Short Fixed Income Fund (NUSFX) (Ultrashort Bond) with a 1Y correlation of 0.18, up from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Northern Ultra-Short Fixed Income Fund | 0.18 | 0.07 | 0.05 | 99 | Ultrashort Bond | NOMIX vs NUSFX | |
| Northern Limited Term Tax-Exempt Fund | 0.19 | 0.17 | 0.11 | 55 | Municipal Bonds | NOMIX vs NSITX | |
| Northern Intermediate Tax Exempt Fund | 0.25 | 0.19 | 0.14 | 66 | Municipal Bonds | NOMIX vs NOITX | |
| Northern California Tax Exempt Fund | 0.26 | 0.15 | 0.10 | 65 | Municipal Bonds | NOMIX vs NCATX | |
| Northern Arizona Tax Exempt Fund | 0.26 | 0.17 | 0.12 | 62 | Municipal Bonds | NOMIX vs NOAZX |
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