Looking to diversify beyond PIREX? The mutual funds below have historically moved differently from PIREX, 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 PIREX
5 mutual funds have low correlation with PIREX (below 0.3), 1 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| TIAA Real Estate Account | -0.20 | — | — | 99 | REIT | PIREX vs QREARX | |
| Redwood Real Estate Income Fund | 0.04 | — | — | 100 | REIT | PIREX vs CREMX | |
| Principal Global Multi-Strategy Fund | 0.22 | 0.33 | 0.45 | 97 | Multistrategy | PIREX vs PSMIX | |
| Principal LifeTime Hybrid 2055 Fund | 0.23 | 0.46 | 0.60 | 68 | Target Retirement Date | PIREX vs PLTNX | |
| Principal SAM Strategic Growth Portfolio | 0.26 | 0.47 | 0.59 | 64 | Diversified Portfolio | PIREX vs SACAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PIREX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Cummins Inc. (CMI) (Industrials) with a 1Y correlation of 0.14, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cummins Inc. | 0.14 | 0.30 | 0.37 | 92 | Industrials | |
| RTX Corporation | 0.30 | 0.29 | 0.37 | 82 | Industrials | |
| Johnson & Johnson | 0.34 | 0.40 | 0.39 | 97 | Healthcare | |
| The Coca-Cola Company | 0.35 | 0.40 | 0.45 | 90 | Consumer Defensive | |
| Chubb Limited | 0.37 | 0.34 | 0.38 | 89 | Financial Services |
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