Looking to diversify beyond PIREX? The mutual funds below have the lowest correlation with PIREX — 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 PIREX.
Best Diversifiers for PIREX
3 mutual funds have low correlation with PIREX (below 0.3), 1 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| TIAA Real Estate Account | -0.18 | — | — | 98 | REIT | PIREX vs QREARX | |
| Redwood Real Estate Income Fund | 0.00 | — | — | 100 | REIT | PIREX vs CREMX | |
| Principal Global Multi-Strategy Fund | 0.29 | 0.35 | 0.46 | 96 | Multistrategy | PIREX vs PSMIX | |
| Principal LifeTime Hybrid 2055 Fund | 0.31 | 0.50 | 0.61 | 66 | Target Retirement Date | PIREX vs PLTNX | |
| Principal SAM Strategic Growth Portfolio | 0.33 | 0.50 | 0.61 | 58 | Diversified Portfolio | PIREX vs SACAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PIREX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PIREX and solid risk/return profiles. The least correlated is Cummins Inc. (CMI) (Industrials) with a 1Y correlation of 0.23, down from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cummins Inc. | 0.23 | 0.33 | 0.39 | 97 | Industrials | |
| RTX Corporation | 0.30 | 0.30 | 0.38 | 70 | Industrials | |
| Johnson & Johnson | 0.33 | 0.37 | 0.39 | 95 | Healthcare | |
| The Coca-Cola Company | 0.34 | 0.39 | 0.44 | 74 | Consumer Defensive | |
| Chubb Limited | 0.35 | 0.32 | 0.38 | 68 | Financial Services |
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