Looking to diversify beyond PACIX? The mutual funds below have historically moved differently from PACIX, 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 PACIX
1 mutual funds have low correlation with PACIX (below 0.3), 0 of which are negatively correlated. The least correlated is Lazard Enhanced Opportunities Portfolio Open Shares (LEOOX) (Convertible Bonds) with a 1Y correlation of 0.27, roughly unchanged from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lazard Enhanced Opportunities Portfolio Open Share... | 0.27 | 0.11 | 0.19 | 75 | Convertible Bonds | PACIX vs LEOOX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | 0.31 | 0.39 | 0.51 | 59 | High Yield Bonds | PACIX vs FHYTX | |
| Columbia Dividend Income Fund Class A | 0.48 | 0.60 | 0.66 | 89 | Large Cap Value Equities | PACIX vs LBSAX | |
| Columbia Dividend Income Fund Institutional 3 Clas... | 0.49 | 0.60 | 0.67 | 90 | Large Cap Value Equities, Dividend | PACIX vs CDDYX | |
| Columbia Dividend Income Fund | 0.49 | 0.61 | 0.67 | 90 | Large Cap Value Equities | PACIX vs GSFTX |
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