Looking to diversify beyond PBMFX? The mutual funds below have historically moved differently from PBMFX, 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 PBMFX
20 mutual funds have low correlation with PBMFX (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 -0.01, 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 | -0.01 | 0.15 | 0.20 | 88 | Municipal Bonds | PBMFX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.08 | 0.19 | 0.22 | 91 | Municipal Bonds | PBMFX vs DMREX | |
| Pioneer ILS Interval Fund | 0.10 | 0.11 | 0.09 | 100 | High Yield Bonds | PBMFX vs XILSX | |
| Pioneer Core Equity Fund | 0.17 | 0.11 | 0.09 | 80 | Large Cap Blend Equities | PBMFX vs PIOTX | |
| DFA California Short Term Municipal Bond Portfolio | 0.17 | 0.28 | 0.37 | 99 | Municipal Bonds | PBMFX vs DFCMX |
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