Looking to diversify beyond PIIFX? The mutual funds below have historically moved differently from PIIFX, 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 PIIFX
3 mutual funds have low correlation with PIIFX (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.05, roughly unchanged from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.05 | -0.02 | -0.02 | 100 | High Yield Bonds | PIIFX vs XILSX | |
| Pioneer Multi-Asset Ultrashort Income Fund | 0.16 | 0.13 | 0.14 | 99 | Ultrashort Bond | PIIFX vs MYFRX | |
| Pioneer Securitized Income Fund | 0.26 | 0.16 | 0.13 | 80 | Nontraditional Bonds | PIIFX vs SYFFX | |
| Federated Hermes International Strategic Value Div... | 0.44 | 0.55 | 0.68 | 88 | Foreign Large Cap Equities | PIIFX vs IVFIX | |
| Pioneer Mid Cap Value Fund | 0.59 | 0.61 | 0.70 | 85 | Mid Cap Value Equities | PIIFX vs PCGRX |
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