Looking to diversify beyond NPFD? The mutual funds below have historically moved differently from NPFD, 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 NPFD
3 mutual funds have low correlation with NPFD (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Real Estate Securities Fund (FARCX) (REIT) with a 1Y correlation of 0.22, roughly unchanged from 0.27 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Real Estate Securities Fund | 0.22 | 0.27 | — | 72 | REIT | NPFD vs FARCX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.29 | 0.19 | — | 91 | High Yield Muni | NPFD vs NVHIX | |
| Principal Capital Securities Fund | 0.30 | 0.32 | — | 77 | Preferred Stock | NPFD vs PCSFX | |
| Cohen & Steers Low Duration Preferred and Income F... | 0.30 | 0.36 | — | 86 | Preferred Stock | NPFD vs LPXZX | |
| PIMCO Preferred and Capital Securities Fund | 0.31 | 0.35 | — | 68 | Preferred Stock | NPFD vs PFINX |
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