Looking to diversify beyond PLFLX? The mutual funds below have historically moved differently from PLFLX, 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 PLFLX
3 mutual funds have low correlation with PLFLX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.06, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.06 | 0.02 | 0.12 | 93 | Bank Loan | PLFLX vs XPTFX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.16 | — | — | 99 | Bank Loan | PLFLX vs CAPIX | |
| RiverPark Floating Rate CMBS Fund | 0.21 | 0.14 | 0.18 | 100 | Bank Loan | PLFLX vs RCRIX | |
| Dunham Floating Rate Bond Fund | 0.40 | 0.38 | 0.52 | 76 | Bank Loan | PLFLX vs DAFRX | |
| T. Rowe Price Institutional Floating Rate Fund | 0.43 | 0.51 | 0.64 | 79 | Bank Loan | PLFLX vs RPIFX |
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