Looking to diversify beyond NQVAX? The mutual funds below have the lowest correlation with NQVAX — 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 NQVAX.
Best Diversifiers for NQVAX
2 mutual funds have low correlation with NQVAX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen High Yield Municipal Bond Fund (NHMRX) (High Yield Muni) with a 1Y correlation of 0.19, up from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen High Yield Municipal Bond Fund | 0.19 | 0.12 | 0.09 | 63 | High Yield Muni | NQVAX vs NHMRX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.21 | 0.11 | 0.11 | 65 | High Yield Muni | NQVAX vs NVHIX | |
| Nuveen Preferred Securities & Income Fund | 0.37 | 0.36 | 0.37 | 73 | Preferred Stock/Convertible Bonds | NQVAX vs NPSRX | |
| Federated Hermes Strategic Value Dividend Fund | 0.46 | 0.57 | 0.68 | 78 | Large Cap Value Equities | NQVAX vs SVAIX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.55 | 0.55 | 0.61 | 62 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | NQVAX vs QQQX |
See all 31 diversifiers for NQVAX
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