Looking to diversify beyond NXG? The mutual funds below have historically moved differently from NXG, 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 NXG
17 mutual funds have low correlation with NXG (below 0.3), 0 of which are negatively correlated. The least correlated is Recurrent MLP & Infrastructure Fund (RMLPX) (Infrastructure Equities) with a 1Y correlation of 0.15, down from 0.34 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Recurrent MLP & Infrastructure Fund | 0.15 | 0.34 | — | 91 | Infrastructure Equities, Energy Equities | NXG vs RMLPX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.18 | 0.32 | — | 66 | Infrastructure Equities, Global Equities | NXG vs CSUAX | |
| JHancock Infrastructure Fund | 0.19 | 0.30 | — | 75 | Infrastructure Equities, Energy Equities | NXG vs JEEIX | |
| Goldman Sachs Energy Infrastructure Fund Class P | 0.19 | 0.37 | — | 72 | Infrastructure Equities, MLPs | NXG vs GAMPX | |
| Goldman Sachs Energy Infrastructure Fund | 0.20 | 0.37 | — | 73 | Infrastructure Equities, Energy Equities | NXG vs GLEIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NXG, 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 Realty Income Corporation (O) (Real Estate) with a 1Y correlation of -0.03, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | -0.03 | 0.13 | 0.18 | 69 | Real Estate | |
| Trinity Capital Inc. | 0.09 | 0.25 | — | 86 | Financial Services | |
| Innovative Industrial Properties, Inc. | 0.09 | 0.19 | 0.27 | 71 | Real Estate | |
| MPLX LP | 0.10 | 0.29 | 0.32 | 82 | Energy | |
| Dynex Capital, Inc. | 0.11 | 0.18 | 0.24 | 71 | Real Estate |
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