Looking to diversify beyond PIOBX? The mutual funds below have historically moved differently from PIOBX, 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 PIOBX
3 mutual funds have low correlation with PIOBX (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 0.07, roughly unchanged from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.07 | 0.03 | 0.03 | 100 | High Yield Bonds | PIOBX vs XILSX | |
| Pioneer Mid Cap Value Fund | 0.27 | 0.19 | 0.10 | 85 | Mid Cap Value Equities | PIOBX vs PCGRX | |
| Pioneer Core Equity Fund | 0.28 | 0.17 | 0.10 | 70 | Large Cap Blend Equities | PIOBX vs PIOTX | |
| Pioneer Global Sustainable Equity Fund Class A | 0.30 | 0.20 | 0.12 | 84 | Global Equities, Sustainable | PIOBX vs GLOSX | |
| Fidelity 500 Index Fund | 0.32 | 0.19 | 0.13 | 64 | S&P 500 | PIOBX vs FXAIX |
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