Looking to diversify beyond NUGIX? The mutual funds below have historically moved differently from NUGIX, 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 NUGIX
1 mutual funds have low correlation with NUGIX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) (High Yield Muni) with a 1Y correlation of 0.27, up from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.27 | 0.16 | 0.14 | 91 | High Yield Muni | NUGIX vs NVHIX | |
| Nuveen High Yield Municipal Bond Fund | 0.33 | 0.19 | 0.16 | 89 | High Yield Muni | NUGIX vs NHMRX | |
| GQG Partners Global Quality Dividend Income Fund | 0.37 | 0.60 | 0.69 | 70 | Quality Factor, Global Equities | NUGIX vs GQFPX | |
| Catalyst/Millburn Hedge Strategy Fund Class I | 0.40 | 0.34 | 0.38 | 90 | Multistrategy, Systematic Trend, Global Equities | NUGIX vs MBXIX | |
| Nuveen Real Estate Securities Fund | 0.42 | 0.55 | 0.64 | 72 | REIT | NUGIX vs FARCX |
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