Looking to diversify beyond PIYFX? The mutual funds below have the lowest correlation with PIYFX — 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 PIYFX.
Best Diversifiers for PIYFX
2 mutual funds have low correlation with PIYFX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.14, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.14 | 0.08 | 0.14 | 76 | Diversified Portfolio | PIYFX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.07 | 0.16 | 0.38 | 63 | Diversified Portfolio | PIYFX vs MHELX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.36 | 0.57 | 0.57 | 96 | Diversified Portfolio | PIYFX vs FSIRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.36 | 0.56 | 0.57 | 96 | Diversified Portfolio | PIYFX vs FIQDX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.37 | 0.56 | 0.57 | 95 | Diversified Portfolio | PIYFX vs FCSRX |
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