Looking to diversify beyond NQGIX? The mutual funds below have the lowest correlation with NQGIX — 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 NQGIX.
Best Diversifiers for NQGIX
2 mutual funds have low correlation with NQGIX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) (High Yield Muni) with a 1Y correlation of 0.27, up from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.27 | 0.14 | 0.13 | 57 | High Yield Muni | NQGIX vs NVHIX | |
| Nuveen High Yield Municipal Bond Fund | 0.29 | 0.17 | 0.13 | 52 | High Yield Muni | NQGIX vs NHMRX | |
| Nuveen Preferred Securities & Income Fund | 0.43 | 0.40 | 0.41 | 79 | Preferred Stock/Convertible Bonds | NQGIX vs NPSRX | |
| Nuveen NASDAQ 100 Dynamic Overwrite Fund | 0.53 | 0.57 | 0.61 | 78 | Large Cap Growth Equities | NQGIX vs QQQX | |
| Oberweis Global Opportunities Fund | 0.56 | 0.66 | 0.72 | 71 | Global Equities | NQGIX vs OBEGX |
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