Looking to diversify beyond NRIIX? The mutual funds below have the lowest correlation with NRIIX — 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 NRIIX.
Best Diversifiers for NRIIX
3 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 0.09, up from -0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| LoCorr Macro Strategies Fund Class I | 0.09 | -0.12 | -0.18 | 88 | Global Allocation | NRIIX vs LFMIX | |
| Nuveen Equity Long/Short Fund | 0.27 | 0.38 | 0.54 | 57 | Long-Short | NRIIX vs NELIX | |
| Nuveen NASDAQ 100 Dynamic Overwrite Fund | 0.29 | 0.37 | 0.49 | 71 | Large Cap Growth Equities | NRIIX vs QQQX | |
| Calamos Global Opportunities Fund | 0.30 | 0.42 | 0.59 | 57 | Global Allocation | NRIIX vs CVLOX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.31 | 0.33 | 0.30 | 62 | High Yield Muni | NRIIX vs NVHIX |
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