Looking to diversify beyond NUV? The mutual funds below have the lowest correlation with NUV — 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 NUV.
Best Diversifiers for NUV
55 mutual funds have low correlation with NUV (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 -0.15, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.15 | 0.08 | 0.09 | 94 | Municipal Bonds | NUV vs DCARX | |
| abrdn Ultra Short Municipal Income Fund | 0.04 | 0.09 | 0.09 | 99 | Municipal Bonds | NUV vs ATOIX | |
| AB Municipal Bond Inflation Strategy | 0.05 | 0.22 | 0.19 | 91 | Municipal Bonds | NUV vs AUNYX | |
| JPMorgan Ultra-Short Municipal Fund | 0.05 | 0.22 | 0.20 | 99 | Municipal Bonds | NUV vs USMSX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | 0.05 | 0.21 | 0.18 | 97 | Municipal Bonds | NUV vs FGNSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NUV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NUV and solid risk/return profiles. The least correlated is The Bank of New York Mellon Corporation (BNY) (Financial Services) with a 1Y correlation of 0.02, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Bank of New York Mellon Corporation | 0.02 | 0.10 | 0.15 | 96 | Financial Services | |
| The Southern Company | 0.08 | 0.20 | 0.18 | 55 | Utilities | |
| Consolidated Edison, Inc. | 0.10 | 0.17 | 0.16 | 61 | Utilities | |
| U.S. Bancorp | 0.15 | 0.21 | 0.21 | 83 | Financial Services | |
| Nuveen AMT-Free Municipal Credit Income Fund | 0.50 | 0.61 | 0.55 | 78 | Financial Services |
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