Looking to diversify beyond PIOTX? The mutual funds below have historically moved differently from PIOTX, 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 PIOTX
8 mutual funds have low correlation with PIOTX (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 0.01, 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 | 0.02 | -0.00 | -0.00 | 100 | High Yield Bonds | PIOTX vs XILSX | |
| Pioneer Multi-Asset Ultrashort Income Fund | 0.08 | 0.07 | 0.09 | 99 | Ultrashort Bond | PIOTX vs MYFRX | |
| Pioneer Short Term Income Fund | 0.15 | 0.09 | 0.10 | 67 | Short-Term Bond | PIOTX vs PSHYX | |
| Pioneer Securitized Income Fund | 0.19 | 0.12 | 0.10 | 80 | Nontraditional Bonds | PIOTX vs SYFFX | |
| Pioneer Corporate High Yield Fund | 0.22 | 0.28 | 0.34 | 63 | High Yield Bonds | PIOTX vs RCRYX |
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