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ETFs and CEFs With Lowest Absolute Correlation to S&P 500 Over the Past Month As Of August 3rd, 2007

Posted August 5th, 2007 by Michael J Bomma...

    Of these 28 funds with absolute correlation to the S&P 500 below 10%, 20 are municipal funds from Nuveen, BlackRock, and other issuers.  The remaining 8 are global, country-specific, currency, and commodity funds.

Symbol SPY Month Corr
GCH -9.71%
NPG -9.42%
IIC -8.85%
EIV -8.45%
MUE -8.01%
NQM -5.11%
ISL -3.17%
NIM -2.56%
NFM -2.11%
DBO -1.22%
BFO -0.95%
ENX 0.41%
DTF 0.82%
SEL 1.61%
PIA 2.94%
NUF 3.63%
FXB 3.67%
NPC 4.23%
NZW 5.20%
MHN 6.23%
FCO 6.84%
IF 7.02%
APX 7.20%
NQP 7.23%
NFC 7.76%
MPA 8.06%
NXI 8.51%
LQD 8.70%