Looking to diversify beyond NWXHX? The mutual funds below have historically moved differently from NWXHX, 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 NWXHX
74 mutual funds have low correlation with NWXHX (below 0.3), 0 of which are negatively correlated. The least correlated is Rational Special Situations Income Fund (RFXIX) (Multisector Bonds) with a 1Y correlation of 0.00, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Rational Special Situations Income Fund | 0.00 | 0.08 | 0.07 | 98 | Multisector Bonds | NWXHX vs RFXIX | |
| Easterly Income Opportunities Fund | 0.01 | 0.17 | 0.11 | 80 | Multisector Bonds | NWXHX vs JSVIX | |
| AQR Managed Futures Strategy Fund - Class I | 0.02 | -0.09 | 0.02 | 92 | Systematic Trend | NWXHX vs AQMIX | |
| Parametric Commodity Strategy Fund Class A | 0.02 | 0.11 | 0.11 | 85 | Commodities | NWXHX vs EAPCX | |
| Nationwide Bailard Cognitive Value Fund | 0.04 | 0.04 | -0.01 | 91 | Small Cap Value Equities | NWXHX vs NWHFX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NWXHX, 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 Williams Companies, Inc. (WMB) (Energy) with a 1Y correlation of -0.06, roughly unchanged from -0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Williams Companies, Inc. | -0.06 | 0.01 | -0.00 | 72 | Energy | |
| Astera Labs, Inc. | 0.25 | 0.04 | 0.04 | 82 | Technology |
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