Looking to diversify beyond PCBAX? The mutual funds below have historically moved differently from PCBAX, 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 PCBAX
36 mutual funds have low correlation with PCBAX (below 0.3), 5 of which are negatively correlated. The least correlated is Morningstar Alternatives Fund (MSTVX) (Multistrategy) with a 1Y correlation of -0.15, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morningstar Alternatives Fund | -0.15 | 0.04 | 0.07 | 87 | Multistrategy | PCBAX vs MSTVX | |
| PIMCO All Asset Fund | -0.14 | 0.07 | 0.04 | 95 | Tactical Allocation | PCBAX vs PAAIX | |
| GMO Alternative Allocation Fund | -0.05 | 0.10 | 0.14 | 89 | Multistrategy | PCBAX vs GAAVX | |
| Aspiriant Defensive Allocation Fund | -0.02 | 0.19 | 0.15 | 97 | Multistrategy | PCBAX vs RMDFX | |
| Fidelity Asset Manager 40% Fund | -0.01 | 0.21 | 0.14 | 78 | Diversified Portfolio | PCBAX vs FFANX |
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