Looking to diversify beyond PIPNX? The mutual funds below have historically moved differently from PIPNX, 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 PIPNX
5 mutual funds have low correlation with PIPNX (below 0.3), 1 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.21, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.21 | 0.03 | 0.13 | 69 | Commodities | PIPNX vs PCRIX | |
| Nationwide Strategic Income A | 0.17 | 0.25 | 0.16 | 99 | Multisector Bonds | PIPNX vs NWXEX | |
| T. Rowe Price Floating Rate Fund - Investor Class | 0.18 | 0.22 | 0.31 | 90 | High Yield Bonds | PIPNX vs PRFRX | |
| Nationwide Amundi Strategic Income Fund | 0.19 | 0.29 | 0.17 | 99 | Multisector Bonds | PIPNX vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.22 | 0.22 | 0.22 | 96 | Multisector Bonds | PIPNX vs CBLDX |
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