Looking to diversify beyond PKBIX? The mutual funds below have the lowest correlation with PKBIX — 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 PKBIX.
Best Diversifiers for PKBIX
3 mutual funds have low correlation with PKBIX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of 0.19, roughly unchanged from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.19 | 0.28 | 0.27 | 99 | Multisector Bonds | PKBIX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.26 | 0.32 | 0.30 | 99 | Multisector Bonds | PKBIX vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.27 | 0.18 | 0.24 | 97 | Multisector Bonds | PKBIX vs CBLDX | |
| Payden Floating Rate Fund | 0.31 | 0.22 | 0.38 | 98 | Bank Loan | PKBIX vs PYFRX | |
| Easterly Income Opportunities Fund | 0.31 | 0.19 | 0.31 | 79 | Multisector Bonds | PKBIX vs JSVIX |
See all 28 diversifiers for PKBIX
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