Looking to diversify beyond PGOVX? The mutual funds below have historically moved differently from PGOVX, 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 PGOVX
7 mutual funds have low correlation with PGOVX (below 0.3), 2 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.22, down from 0.00 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 | -0.22 | -0.02 | 0.00 | 69 | Commodities | PGOVX vs PCRIX | |
| Fidelity Floating Rate High Income Fund | -0.02 | 0.03 | 0.05 | 95 | Bank Loan | PGOVX vs FFRHX | |
| GMO U.S. Treasury Fund | 0.08 | 0.04 | 0.03 | 99 | Government Bonds | PGOVX vs GUSTX | |
| Federated Hermes Adjustable Rate Fund | 0.23 | 0.45 | 0.44 | 99 | Government Bonds | PGOVX vs FEUGX | |
| DFA Short-Term Government Portfolio | 0.28 | 0.11 | 0.31 | 99 | Government Bonds | PGOVX vs DFFGX |
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