Looking to diversify beyond PESPX? The mutual funds below have historically moved differently from PESPX, 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 PESPX
0 mutual funds have low correlation with PESPX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon Natural Resources Fund Class A (DNLAX) (Energy Equities) with a 1Y correlation of 0.50, down from 0.63 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Natural Resources Fund Class A | 0.50 | 0.60 | 0.63 | 85 | Energy Equities | PESPX vs DNLAX | |
| BNY Mellon Global Real Return Fund - Class I | 0.63 | 0.65 | 0.59 | 79 | Tactical Allocation | PESPX vs DRRIX | |
| 13D Activist Fund | 0.72 | 0.82 | 0.87 | 82 | Mid Cap Blend Equities | PESPX vs DDDIX | |
| Gabelli Value 25 Fund | 0.73 | 0.80 | 0.86 | 78 | Mid Cap Blend Equities | PESPX vs GABVX | |
| Victory RS Investors Fund | 0.74 | 0.80 | 0.84 | 75 | Mid Cap Blend Equities | PESPX vs RSINX |
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