Looking to diversify beyond PHMIX? The mutual funds below have the lowest correlation with PHMIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PHMIX.
Best Diversifiers for PHMIX
3 mutual funds have low correlation with PHMIX (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 -0.20, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.20 | 0.00 | 0.03 | 75 | Commodities | PHMIX vs PCRIX | |
| Fidelity Floating Rate High Income Fund | 0.16 | 0.19 | 0.24 | 92 | High Yield Bonds | PHMIX vs FFRHX | |
| PIMCO RAE US Small Fund | 0.20 | 0.15 | 0.08 | 67 | Small Cap Value Equities | PHMIX vs PMJIX | |
| PIMCO Dynamic Bond Fund | 0.62 | 0.58 | 0.55 | 64 | Nontraditional Bonds | PHMIX vs PFIUX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.66 | 0.69 | 0.69 | 62 | High Yield Muni | PHMIX vs NVHIX |
See all 34 diversifiers for PHMIX
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Diversification Analysis
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