Looking to diversify beyond NQVAX? The mutual funds below have historically moved differently from NQVAX, 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 NQVAX
3 mutual funds have low correlation with NQVAX (below 0.3), 0 of which are negatively correlated. The least correlated is Voya Corporate Leaders Trust Fund (LEXCX) (Large Cap Value Equities) with a 1Y correlation of 0.22, down from 0.65 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Voya Corporate Leaders Trust Fund | 0.22 | 0.52 | 0.65 | 93 | Large Cap Value Equities | NQVAX vs LEXCX | |
| Nuveen High Yield Municipal Bond Fund | 0.27 | 0.13 | 0.10 | 89 | High Yield Muni | NQVAX vs NHMRX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.27 | 0.13 | 0.12 | 91 | High Yield Muni | NQVAX vs NVHIX | |
| Nuveen Preferred Securities & Income Fund | 0.39 | 0.36 | 0.38 | 73 | Preferred Stock | NQVAX vs NPSRX | |
| Federated Hermes Strategic Value Dividend Fund | 0.40 | 0.55 | 0.67 | 94 | Large Cap Value Equities | NQVAX vs SVAIX |
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