Looking to diversify beyond PIFZX? The mutual funds below have historically moved differently from PIFZX, 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 PIFZX
8 mutual funds have low correlation with PIFZX (below 0.3), 0 of which are negatively correlated. The least correlated is GuidePath Absolute Return Allocation Fund (GPARX) (Short-Term Bond) with a 1Y correlation of 0.14, down from 0.64 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GuidePath Absolute Return Allocation Fund | 0.14 | 0.55 | 0.64 | 69 | Short-Term Bond | PIFZX vs GPARX | |
| Leader Short Term High Yield Bond Fund | 0.15 | 0.14 | 0.22 | 84 | Short-Term Bond | PIFZX vs LCCMX | |
| DFA Two-Year Fixed Income Portfolio | 0.17 | 0.02 | 0.37 | 100 | Short-Term Bond | PIFZX vs DFCFX | |
| John Hancock Funds Disciplined Value Fund | 0.22 | 0.15 | 0.11 | 86 | Large Cap Value Equities | PIFZX vs JVLIX | |
| PGIM Floating Rate Income Fund | 0.24 | 0.15 | 0.17 | 97 | Bank Loan | PIFZX vs FRFZX |
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