Looking to diversify beyond PKBIX? The mutual funds below have historically moved differently from PKBIX, 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 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 0.23, roughly unchanged from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.23 | 0.27 | 0.27 | 99 | Multisector Bonds | PKBIX vs NWXEX | |
| Easterly Income Opportunities Fund | 0.27 | 0.16 | 0.31 | 82 | Multisector Bonds | PKBIX vs JSVIX | |
| CrossingBridge Low Duration High Yield Fund | 0.28 | 0.19 | 0.24 | 96 | Multisector Bonds | PKBIX vs CBLDX | |
| Nationwide Amundi Strategic Income Fund | 0.31 | 0.32 | 0.29 | 99 | Multisector Bonds | PKBIX vs NWXHX | |
| Payden Floating Rate Fund | 0.33 | 0.22 | 0.38 | 98 | Bank Loan | PKBIX vs PYFRX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PKBIX
Add PKBIX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PKBIX