Looking to diversify beyond NXG? The mutual funds below have the lowest correlation with NXG — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from NXG.
Best Diversifiers for NXG
1 mutual funds have low correlation with NXG (below 0.3), 0 of which are negatively correlated. The least correlated is Janus Henderson Global Equity Income Fund Class T (HFQTX) (Global Equity Income) with a 1Y correlation of 0.20, roughly unchanged from 0.28 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Janus Henderson Global Equity Income Fund Class T | 0.20 | 0.28 | — | 56 | Global Equity Income | NXG vs HFQTX | |
| NXG Cushing® Midstream Energy Fund | 0.37 | 0.42 | — | 53 | Global Equity Income, Oil & Gas | NXG vs SRV | |
| Columbia Seligman Premium Technology Growth Closed... | 0.39 | 0.30 | — | 98 | Technology Equities | NXG vs STK |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NXG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NXG and solid risk/return profiles. The least correlated is Equinix, Inc. (EQIX) (Real Estate) with a 1Y correlation of 0.12, down from 0.24 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinix, Inc. | 0.12 | 0.24 | — | 64 | Real Estate | |
| AGNC Investment Corp. | 0.14 | 0.25 | 0.28 | 76 | Real Estate | |
| Capital Southwest Corporation | 0.15 | 0.25 | — | 76 | Financial Services | |
| Tesla, Inc. | 0.24 | 0.21 | — | 55 | Consumer Cyclical | |
| Cohen & Steers Infrastructure Fund, Inc | 0.25 | 0.31 | — | 63 | Financial Services |
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