Looking to diversify beyond PLFRX? The mutual funds below have historically moved differently from PLFRX, 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 PLFRX
7 mutual funds have low correlation with PLFRX (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 -0.04, down from 0.11 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 ... | -0.04 | 0.02 | 0.11 | 92 | Bank Loan | PLFRX vs XPTFX | |
| Pacific Funds Short Duration Income | 0.15 | 0.16 | 0.20 | 86 | Short-Term Bond | PLFRX vs PLSDX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.15 | — | — | 99 | Bank Loan | PLFRX vs CAPIX | |
| River Canyon Total Return Bond Fund | 0.15 | 0.17 | 0.20 | 82 | Short-Term Bond | PLFRX vs RCTIX | |
| RiverPark Floating Rate CMBS Fund | 0.22 | 0.12 | 0.17 | 99 | Bank Loan | PLFRX vs RCRIX |
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