Looking to diversify beyond NOTEX? The mutual funds below have historically moved differently from NOTEX, 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 NOTEX
15 mutual funds have low correlation with NOTEX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of -0.01, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.01 | 0.11 | 0.09 | 99 | Municipal Bonds | NOTEX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.03 | 0.12 | 0.10 | 99 | Municipal Bonds | NOTEX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | 0.09 | 0.13 | 0.14 | 100 | Municipal Bonds | NOTEX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 0.17 | 0.22 | 0.33 | 100 | Municipal Bonds | NOTEX vs DFSMX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | 0.23 | 0.41 | 0.43 | 97 | Municipal Bonds | NOTEX vs FGNSX |
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