Looking to diversify beyond PIODX? The mutual funds below have historically moved differently from PIODX, 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 PIODX
5 mutual funds have low correlation with PIODX (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 -0.01 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 | -0.01 | -0.01 | 100 | High Yield Bonds | PIODX vs XILSX | |
| Pioneer Multi-Asset Ultrashort Income Fund | 0.12 | 0.06 | 0.09 | 98 | Ultrashort Bond | PIODX vs MYFRX | |
| Pioneer Securitized Income Fund | 0.22 | 0.10 | 0.09 | 69 | Nontraditional Bonds | PIODX vs SYFFX | |
| Pioneer Floating Rate Fund | 0.24 | 0.19 | 0.21 | 85 | Bank Loan | PIODX vs FLYRX | |
| Pioneer Corporate High Yield Fund | 0.25 | 0.27 | 0.33 | 58 | High Yield Bonds | PIODX vs RCRYX |
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