Looking to diversify beyond PCMNX? The mutual funds below have historically moved differently from PCMNX, 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 PCMNX
12 mutual funds have low correlation with PCMNX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.05, 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 |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.05 | 0.12 | 0.10 | 99 | Municipal Bonds | PCMNX vs FHMIX | |
| DFA Municipal Real Return Portfolio | 0.06 | 0.23 | 0.27 | 94 | Municipal Bonds | PCMNX vs DMREX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.14 | 0.13 | 0.11 | 99 | Municipal Bonds | PCMNX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | 0.17 | 0.13 | 0.16 | 100 | Municipal Bonds | PCMNX vs ATOIX | |
| UBS Emerging Markets Equity Opportunity Fund | 0.18 | 0.14 | 0.13 | 77 | Emerging Markets Equities | PCMNX vs EMPTX |
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