Looking to diversify beyond PIM? The mutual funds below have historically moved differently from PIM, 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 PIM
7 mutual funds have low correlation with PIM (below 0.3), 0 of which are negatively correlated. The least correlated is GMO Multi-Sector Fixed Income Fund (GUGAX) (Intermediate Core-Plus Bond) with a 1Y correlation of 0.18, roughly unchanged from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GMO Multi-Sector Fixed Income Fund | 0.18 | 0.24 | 0.24 | 90 | Intermediate Core-Plus Bond | PIM vs GUGAX | |
| Putnam Mortgage Securities Fund | 0.21 | 0.24 | 0.23 | 64 | Intermediate Core-Plus Bond | PIM vs PGSIX | |
| Leader Capital High Quality Floating Rate Fund Inv... | 0.23 | 0.12 | 0.13 | 89 | Intermediate Core-Plus Bond | PIM vs LCTRX | |
| AAMA Income Fund | 0.24 | 0.20 | 0.18 | 81 | Intermediate Core-Plus Bond | PIM vs AMFIX | |
| Western Asset SMASh Series M Fund | 0.24 | 0.25 | 0.21 | 54 | Intermediate Core-Plus Bond | PIM vs LMSMX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PIM
Add PIM to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PIM