Looking to diversify beyond PEQIX? The mutual funds below have historically moved differently from PEQIX, 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 PEQIX
6 mutual funds have low correlation with PEQIX (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.01, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.01 | 0.01 | 0.01 | 100 | High Yield Bonds | PEQIX vs XILSX | |
| Pioneer Multi-Asset Ultrashort Income Fund | 0.10 | 0.09 | 0.10 | 99 | Ultrashort Bond | PEQIX vs MYFRX | |
| Pioneer Corporate High Yield Fund | 0.12 | 0.23 | 0.31 | 63 | High Yield Bonds | PEQIX vs RCRYX | |
| Pioneer Securitized Income Fund | 0.17 | 0.13 | 0.11 | 80 | Nontraditional Bonds | PEQIX vs SYFFX | |
| Allspring Emerging Markets Equity Income Fund | 0.20 | 0.30 | 0.43 | 63 | Dividend, Emerging Markets Equities | PEQIX vs EQIIX |
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