Looking to diversify beyond NWLSX? The mutual funds below have historically moved differently from NWLSX, 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 NWLSX
2 mutual funds have low correlation with NWLSX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of 0.22, up from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.22 | 0.14 | 0.06 | 99 | Multisector Bonds | NWLSX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.23 | 0.15 | 0.06 | 99 | Multisector Bonds | NWLSX vs NWXHX | |
| Nationwide Mid Cap Market Index Fund | 0.80 | 0.84 | 0.88 | 50 | Mid Cap Blend Equities | NWLSX vs GMXAX | |
| Nationwide Small Cap Index Fund | 0.81 | 0.84 | 0.87 | 76 | Small Cap Blend Equities | NWLSX vs GMRAX | |
| Dimensional Retirement Income Fund | 0.82 | 0.83 | 0.79 | 81 | Target Retirement Date | NWLSX vs TDIFX |
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