Looking to diversify beyond PIEFX? The mutual funds below have the lowest correlation with PIEFX — 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 PIEFX.
Best Diversifiers for PIEFX
3 mutual funds have low correlation with PIEFX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund (SVAIX) (Large Cap Value Equities) with a 1Y correlation of 0.09, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | 0.09 | 0.25 | 0.31 | 70 | Large Cap Value Equities | PIEFX vs SVAIX | |
| Federated Hermes Institutional High Yield Bond Fun... | 0.27 | 0.31 | 0.38 | 64 | High Yield Bonds | PIEFX vs FIHBX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | 0.27 | 0.35 | 0.43 | 59 | High Yield Bonds | PIEFX vs FHYTX | |
| Federated Hermes MDT All Cap Core Fund | 0.36 | 0.48 | 0.55 | 56 | Large Cap Blend Equities | PIEFX vs QIACX | |
| Ashmore Emerging Markets Small Cap Equity Fund | 0.44 | 0.64 | 0.71 | 86 | Emerging Markets Diversified | PIEFX vs ESCIX |
See all 23 diversifiers for PIEFX
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