Looking to diversify beyond NRIIX? The mutual funds below have historically moved differently from NRIIX, 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 NRIIX
4 mutual funds have low correlation with NRIIX (below 0.3), 0 of which are negatively correlated. The least correlated is LoCorr Macro Strategies Fund Class I (LFMIX) (Global Allocation) with a 1Y correlation of 0.06, up from -0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| LoCorr Macro Strategies Fund Class I | 0.06 | -0.11 | -0.20 | 83 | Global Allocation | NRIIX vs LFMIX | |
| Allspring Absolute Return Fund | 0.17 | 0.49 | 0.54 | 86 | Global Allocation | NRIIX vs WARAX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.22 | 0.35 | 0.48 | 63 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | NRIIX vs QQQX | |
| MH Elite Select Portfolio of Funds Fund | 0.29 | 0.32 | 0.55 | 75 | Global Allocation | NRIIX vs MHESX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.31 | 0.32 | 0.30 | 88 | High Yield Muni | NRIIX vs NVHIX |
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