Looking to diversify beyond PCF? The mutual funds below have historically moved differently from PCF, 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 PCF
3 mutual funds have low correlation with PCF (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 0.12, roughly unchanged from 0.15 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... | 0.12 | 0.12 | 0.15 | 75 | Convertible Bonds | PCF vs LEOOX | |
| Putnam Ultra Short Duration Income Fund | 0.17 | 0.12 | 0.11 | 99 | Ultrashort Bond | PCF vs PSDYX | |
| The Gabelli Convertible and Income Securities Fund... | 0.28 | 0.27 | 0.26 | 81 | Convertible Bonds | PCF vs GCV | |
| Absolute Convertible Arbitrage Fund Institutional ... | 0.31 | 0.21 | 0.25 | 100 | Multistrategy, Convertible Bonds | PCF vs ARBIX | |
| Virtus Convertible and Income Fund | 0.33 | 0.37 | 0.40 | 75 | Convertible Bonds | PCF vs NCV |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PCF, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is General American Investors Company, Inc. (GAM) (Financial Services) with a 1Y correlation of 0.39, roughly unchanged from 0.43 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| General American Investors Company, Inc. | 0.39 | 0.36 | 0.43 | 93 | Financial Services |
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