Looking to diversify beyond PIEFX? The mutual funds below have historically moved differently from PIEFX, 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 PIEFX
5 mutual funds have low correlation with PIEFX (below 0.3), 2 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.14, roughly unchanged from -0.05 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.14 | -0.05 | — | 54 | Long-Short | PIEFX vs QAMNX | |
| Federated Hermes Strategic Value Dividend Fund | -0.06 | 0.17 | 0.28 | 94 | Large Cap Value Equities | PIEFX vs SVAIX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.06 | 0.41 | 0.52 | 56 | Foreign Large Cap Equities, Emerging Markets Equities | PIEFX vs GSIYX | |
| The Cook & Bynum Fund | 0.15 | 0.32 | 0.39 | 66 | Emerging Markets Equities | PIEFX vs COBYX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.30 | 0.30 | 0.38 | 74 | High Yield Bonds | PIEFX vs FHYSX |
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