Looking to diversify beyond NUV? The mutual funds below have historically moved differently from NUV, 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 NUV
71 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 -0.13, down from 0.08 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 | -0.13 | 0.06 | 0.08 | 91 | Municipal Bonds | NUV vs DCARX | |
| abrdn Ultra Short Municipal Income Fund | 0.03 | 0.10 | 0.09 | 100 | Municipal Bonds | NUV vs ATOIX | |
| DFA Municipal Real Return Portfolio | 0.04 | 0.10 | 0.09 | 94 | Municipal Bonds | NUV vs DMREX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | 0.04 | 0.22 | 0.18 | 97 | Municipal Bonds | NUV vs FGNSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.05 | 0.20 | 0.20 | 98 | Municipal Bonds | NUV vs USMSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NUV, 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 The Bank of New York Mellon Corporation (BNY) (Financial Services) with a 1Y correlation of 0.02, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Bank of New York Mellon Corporation | 0.02 | 0.12 | 0.18 | 95 | Financial Services | |
| Consolidated Edison, Inc. | 0.09 | 0.17 | 0.17 | 59 | Utilities | |
| U.S. Bancorp | 0.14 | 0.20 | 0.21 | 88 | Financial Services | |
| Nuveen AMT-Free Municipal Credit Income Fund | 0.49 | 0.61 | 0.55 | 79 | Financial Services |
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