Looking to diversify beyond PELAX? The mutual funds below have historically moved differently from PELAX, 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 PELAX
1 mutual funds have low correlation with PELAX (below 0.3), 1 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.09, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.09 | 0.18 | 0.23 | 69 | Commodities | PELAX vs PCRIX | |
| PIMCO RAE US Small Fund | 0.38 | 0.35 | 0.37 | 86 | Small Cap Value Equities | PELAX vs PMJIX | |
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.42 | 0.40 | 0.39 | 98 | Emerging Markets Bonds | PELAX vs DBLLX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.44 | 0.41 | 0.47 | 57 | Emerging Markets Bonds | PELAX vs EDD | |
| DoubleLine Emerging Markets Fixed Income Fund | 0.48 | 0.44 | 0.47 | 74 | Emerging Markets Bonds | PELAX vs DBLEX |
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