Looking to diversify beyond NRK? The mutual funds below have historically moved differently from NRK, 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 NRK
21 mutual funds have low correlation with NRK (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.07, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.07 | 0.09 | 0.16 | 91 | Municipal Bonds | NRK vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.02 | 0.11 | 0.17 | 94 | Municipal Bonds | NRK vs DMREX | |
| abrdn Ultra Short Municipal Income Fund | 0.07 | 0.14 | 0.14 | 100 | Municipal Bonds | NRK vs ATOIX | |
| DFA NY Municipal Bond Portfolio | 0.09 | 0.19 | 0.24 | 99 | Municipal Bonds | NRK vs DNYMX | |
| Federated Hermes Conservative Municipal Microshort... | 0.15 | 0.12 | 0.09 | 99 | Municipal Bonds | NRK vs FHMIX |
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