Looking to diversify beyond NSBRX? The mutual funds below have historically moved differently from NSBRX, 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 NSBRX
33 mutual funds have low correlation with NSBRX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Short Term Municipal Bond Fund (FSHYX) (Municipal Bonds) with a 1Y correlation of 0.18, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Short Term Municipal Bond Fund | 0.18 | 0.15 | 0.08 | 66 | Municipal Bonds | NSBRX vs FSHYX | |
| Nuveen Wisconsin Municipal Bond Fund | 0.21 | 0.13 | 0.09 | 88 | Municipal Bonds | NSBRX vs FWIAX | |
| Nuveen Nebraska Municipal Bond Fund | 0.21 | 0.17 | 0.12 | 78 | Municipal Bonds | NSBRX vs FNTYX | |
| Nuveen Kentucky Municipal Bond Fund | 0.22 | 0.16 | 0.10 | 69 | Municipal Bonds | NSBRX vs FKYTX | |
| Nuveen Colorado Municipal Bond Fund | 0.22 | 0.15 | 0.11 | 86 | Municipal Bonds | NSBRX vs FCOTX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NSBRX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.27, down from 0.60 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.27 | 0.46 | 0.60 | 61 | Financial Services | |
| Innovative Industrial Properties, Inc. | 0.28 | 0.42 | 0.49 | 71 | Real Estate |
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