Looking to diversify beyond PIPNX? The mutual funds below have the lowest correlation with PIPNX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PIPNX.
Best Diversifiers for PIPNX
6 mutual funds have low correlation with PIPNX (below 0.3), 1 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of -0.00, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | -0.00 | 0.23 | 0.16 | 99 | Multisector Bonds | PIPNX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.08 | 0.28 | 0.17 | 99 | Multisector Bonds | PIPNX vs NWXHX | |
| CrossingBridge Responsible Credit Fund | 0.10 | 0.14 | — | 58 | Multisector Bonds | PIPNX vs CBRDX | |
| Potomac Managed Volatility Fund | 0.19 | 0.42 | 0.28 | 55 | Multisector Bonds | PIPNX vs CRMVX | |
| T. Rowe Price Floating Rate Fund | 0.20 | 0.23 | 0.32 | 96 | High Yield Bonds | PIPNX vs PRFRX |
See all 21 diversifiers for PIPNX
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