Looking to diversify beyond PMAIX? The mutual funds below have historically moved differently from PMAIX, 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 PMAIX
9 mutual funds have low correlation with PMAIX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of 0.06, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | 0.06 | 0.24 | 0.35 | 77 | Diversified Portfolio | PMAIX vs SIFAX | |
| Pioneer ILS Interval Fund | 0.10 | 0.09 | 0.05 | 100 | High Yield Bonds | PMAIX vs XILSX | |
| MH Elite Small Cap Fund of Funds Fund | 0.21 | 0.27 | 0.44 | 66 | Diversified Portfolio | PMAIX vs MHELX | |
| Pioneer Multi-Asset Ultrashort Income Fund | 0.22 | 0.23 | 0.25 | 98 | Ultrashort Bond | PMAIX vs MYFRX | |
| Allspring Diversified Capital Builder Fund | 0.24 | 0.33 | 0.44 | 91 | Diversified Portfolio | PMAIX vs EKBAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PMAIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is BlackRock Capital Allocation Term Trust (BCAT) (Financial Services) with a 1Y correlation of 0.36, roughly unchanged from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Capital Allocation Term Trust | 0.36 | 0.35 | 0.42 | 95 | Financial Services |
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