Looking to diversify beyond NWMSX? The mutual funds below have historically moved differently from NWMSX, 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 NWMSX
2 mutual funds have low correlation with NWMSX (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 0.22, 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 Amundi Strategic Income Fund | 0.22 | 0.14 | 0.06 | 99 | Multisector Bonds | NWMSX vs NWXHX | |
| Nationwide Strategic Income A | 0.22 | 0.13 | 0.05 | 99 | Multisector Bonds | NWMSX vs NWXEX | |
| Nationwide Mid Cap Market Index Fund | 0.80 | 0.86 | 0.89 | 58 | Mid Cap Blend Equities | NWMSX vs GMXAX | |
| Dimensional Retirement Income Fund | 0.81 | 0.81 | 0.77 | 83 | Target Retirement Date | NWMSX vs TDIFX | |
| Nationwide Small Cap Index Fund | 0.82 | 0.85 | 0.87 | 81 | Small Cap Blend Equities | NWMSX vs GMRAX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NWMSX, 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 Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) (Financial Services) with a 1Y correlation of 0.72, roughly unchanged from 0.73 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.72 | 0.71 | 0.73 | 79 | Financial Services |
Build a portfolio that complements NWMSX
Add NWMSX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with NWMSX