Looking to diversify beyond PBCAX? The mutual funds below have historically moved differently from PBCAX, 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 PBCAX
14 mutual funds have low correlation with PBCAX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Jennison Small Company Fund (PGOAX) (Small Cap Growth Equities) with a 1Y correlation of 0.15, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Jennison Small Company Fund | 0.15 | 0.13 | 0.10 | 67 | Small Cap Growth Equities | PBCAX vs PGOAX | |
| DFA Short Term Municipal Bond Portfolio | 0.15 | 0.26 | 0.33 | 100 | Municipal Bonds | PBCAX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 0.19 | 0.28 | 0.29 | 100 | Municipal Bonds | PBCAX vs ATOIX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.20 | 0.30 | — | 100 | Municipal Bonds | PBCAX vs DFABX | |
| BlackRock MuniYield Michigan Quality Fund | 0.20 | 0.41 | 0.37 | 58 | Municipal Bonds | PBCAX vs MIY |
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