Looking to diversify beyond NPFD? The mutual funds below have the lowest correlation with NPFD — 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 NPFD.
Best Diversifiers for NPFD
1 mutual funds have low correlation with NPFD (below 0.3), 0 of which are negatively correlated. The least correlated is Principal Capital Securities Fund (PCSFX) (Preferred Stock/Convertible Bonds) with a 1Y correlation of 0.30, roughly unchanged from 0.31 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Capital Securities Fund | 0.30 | 0.31 | — | 78 | Preferred Stock/Convertible Bonds | NPFD vs PCSFX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.30 | 0.20 | — | 77 | High Yield Muni | NPFD vs NVHIX | |
| Nuveen Mid Cap Value Fund | 0.31 | 0.33 | — | 79 | Mid Cap Value Equities | NPFD vs FASEX | |
| Cohen & Steers Low Duration Preferred and Income F... | 0.31 | 0.36 | — | 86 | Preferred Stock/Convertible Bonds | NPFD vs LPXZX | |
| Lord Abbett Convertible Fund Class F | 0.32 | 0.34 | — | 71 | Preferred Stock/Convertible Bonds | NPFD vs LBFFX |
See all 23 diversifiers for NPFD
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