Looking to diversify beyond NYAAX? The mutual funds below have historically moved differently from NYAAX, 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 NYAAX
16 mutual funds have low correlation with NYAAX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.04, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.04 | 0.16 | 0.20 | 91 | Municipal Bonds | NYAAX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.03 | 0.20 | 0.22 | 94 | Municipal Bonds | NYAAX vs DMREX | |
| DFA Short Term Municipal Bond Portfolio | 0.21 | 0.27 | 0.37 | 100 | Municipal Bonds | NYAAX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 0.23 | 0.27 | 0.28 | 100 | Municipal Bonds | NYAAX vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.24 | 0.23 | 0.20 | 99 | Municipal Bonds | NYAAX vs TFCYX |
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