Looking to diversify beyond PLMIX? The mutual funds below have historically moved differently from PLMIX, 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 PLMIX
1 mutual funds have low correlation with PLMIX (below 0.3), 1 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.05, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.05 | 0.16 | 0.24 | 70 | Commodities | PLMIX vs PCRIX | |
| PIMCO RAE US Small Fund | 0.36 | 0.34 | 0.40 | 85 | Small Cap Value Equities | PLMIX vs PMJIX | |
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.37 | 0.30 | 0.28 | 96 | Emerging Markets Bonds | PLMIX vs DBLLX | |
| Virtus Stone Harbor Emerg Mkts Corp Dbt | 0.39 | 0.30 | 0.35 | 94 | Emerging Markets Bonds | PLMIX vs SHCDX | |
| DoubleLine Emerging Markets Fixed Income Fund | 0.40 | 0.32 | 0.35 | 53 | Emerging Markets Bonds | PLMIX vs DBLEX |
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