Looking to diversify beyond NWQIX? The mutual funds below have historically moved differently from NWQIX, 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 NWQIX
6 mutual funds have low correlation with NWQIX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.23, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.23 | 0.03 | 0.15 | 83 | Diversified Portfolio | NWQIX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.11 | 0.17 | 0.40 | 66 | Diversified Portfolio | NWQIX vs MHELX | |
| Hennessy Total Return Fund | 0.20 | 0.38 | 0.45 | 69 | Diversified Portfolio | NWQIX vs HDOGX | |
| Hennessy Balanced Fund | 0.25 | 0.43 | 0.48 | 89 | Diversified Portfolio | NWQIX vs HBFBX | |
| Crawford Multi-Asset Income Fund | 0.27 | 0.53 | 0.61 | 66 | Diversified Portfolio | NWQIX vs CMALX |
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