Looking to diversify beyond PIRMX? The mutual funds below have historically moved differently from PIRMX, 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 PIRMX
3 mutual funds have low correlation with PIRMX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.04, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.12 | 0.27 | 66 | Diversified Portfolio | PIRMX vs MHELX | |
| Fidelity Floating Rate High Income Fund | 0.08 | 0.15 | 0.25 | 95 | Bank Loan | PIRMX vs FFRHX | |
| SEI Asset Allocation Trust Defensive Strategy Allo... | 0.27 | 0.30 | 0.35 | 99 | Diversified Portfolio | PIRMX vs STDAX | |
| Virtus Diversified Income & Convertible Fund | 0.33 | 0.32 | 0.35 | 64 | Diversified Portfolio, Convertible Bonds | PIRMX vs ACV | |
| Allspring Diversified Capital Builder Fund | 0.37 | 0.35 | 0.38 | 87 | Diversified Portfolio | PIRMX vs EKBAX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PIRMX
Add PIRMX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PIRMX