Looking to diversify beyond RNSIX? The mutual funds below have the lowest correlation with RNSIX — 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 RNSIX.
Best Diversifiers for RNSIX
5 mutual funds have low correlation with RNSIX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.04 | 0.21 | 0.13 | 99 | Multisector Bonds | RNSIX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.04 | 0.23 | 0.13 | 99 | Multisector Bonds | RNSIX vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.20 | 0.20 | 0.20 | 97 | Multisector Bonds | RNSIX vs CBLDX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.22 | 0.27 | 0.13 | 98 | Nontraditional Bonds | RNSIX vs EGRIX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.25 | 0.26 | 0.29 | 98 | RNSIX vs CMNIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RNSIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RNSIX and solid risk/return profiles. The least correlated is Meta Financial Group, Inc. (CASH) (Financial Services) with a 1Y correlation of 0.27, up from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Meta Financial Group, Inc. | 0.27 | 0.18 | 0.17 | 55 | Financial Services |
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