Looking to diversify beyond PGEKX? The mutual funds below have historically moved differently from PGEKX, 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 PGEKX
4 mutual funds have low correlation with PGEKX (below 0.3), 1 of which are negatively correlated. The least correlated is Goldman Sachs Energy Infrastructure Fund Class P (GAMPX) (Infrastructure Equities) with a 1Y correlation of -0.05, down from 0.50 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs Energy Infrastructure Fund Class P | -0.05 | 0.32 | 0.50 | 79 | Infrastructure Equities, MLPs | PGEKX vs GAMPX | |
| Victory Pioneer Multi-Asset Ultrashort Income Fund... | 0.06 | 0.08 | 0.11 | 98 | Ultrashort Bond | PGEKX vs MAFRX | |
| GQG Partners Global Quality Dividend Income Fund | 0.18 | 0.53 | 0.67 | 68 | Quality Factor, Global Equities | PGEKX vs GQFPX | |
| Victory Pioneer Securitized Income Fund Class A | 0.27 | 0.15 | 0.11 | 66 | Nontraditional Bonds | PGEKX vs SIFFX | |
| Victory Pioneer Floating Rate Fund Class A | 0.31 | 0.25 | 0.26 | 79 | Bank Loan | PGEKX vs FLARX |
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