Looking to diversify beyond NWKDX? The mutual funds below have historically moved differently from NWKDX, 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 NWKDX
4 mutual funds have low correlation with NWKDX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Amundi Strategic Income Fund (NWXHX) (Multisector Bonds) with a 1Y correlation of 0.04, roughly unchanged from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Amundi Strategic Income Fund | 0.04 | 0.02 | -0.04 | 99 | Multisector Bonds | NWKDX vs NWXHX | |
| Nationwide Strategic Income A | 0.16 | 0.06 | -0.03 | 99 | Multisector Bonds | NWKDX vs NWXEX | |
| Federated Hermes MDT Small Cap Growth Fund | 0.24 | 0.54 | 0.73 | 71 | Small Cap Growth Equities | NWKDX vs QISGX | |
| Blackstone Alternative Multi-Strategy Fund | 0.27 | 0.34 | 0.41 | 99 | Multistrategy | NWKDX vs BXMIX | |
| Weitz Short Duration Income Fund | 0.32 | 0.12 | 0.16 | 96 | Short-Term Bond | NWKDX vs WEFIX |
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