Looking to diversify beyond PINDX? The mutual funds below have historically moved differently from PINDX, 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 PINDX
7 mutual funds have low correlation with PINDX (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 0.03, roughly unchanged from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.03 | -0.00 | 0.00 | 100 | High Yield Bonds | PINDX vs XILSX | |
| Pioneer Multi-Asset Ultrashort Income Fund | 0.12 | 0.08 | 0.09 | 98 | Ultrashort Bond | PINDX vs MYFRX | |
| Pioneer Securitized Income Fund | 0.24 | 0.13 | 0.11 | 69 | Nontraditional Bonds | PINDX vs SYFFX | |
| Pioneer Floating Rate Fund | 0.26 | 0.20 | 0.21 | 85 | Bank Loan | PINDX vs FLYRX | |
| Pioneer Corporate High Yield Fund | 0.29 | 0.30 | 0.35 | 58 | High Yield Bonds | PINDX vs RCRYX |
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