Looking to diversify beyond PMAIX? The mutual funds below have the lowest correlation with PMAIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PMAIX.
Best Diversifiers for PMAIX
5 mutual funds have low correlation with PMAIX (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.08, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.08 | 0.08 | 0.05 | 100 | High Yield Bonds | PMAIX vs XILSX | |
| MH Elite Small Cap Fund of Funds Fund | 0.20 | 0.30 | 0.45 | 75 | Diversified Portfolio | PMAIX vs MHELX | |
| Pioneer Multi-Asset Ultrashort Income Fund | 0.24 | 0.24 | 0.25 | 98 | Ultrashort Bond | PMAIX vs MYFRX | |
| Fidelity Floating Rate High Income Fund | 0.29 | 0.36 | 0.45 | 91 | Bank Loan | PMAIX vs FFRHX | |
| Pioneer Securitized Income Fund | 0.29 | 0.28 | 0.22 | 71 | Nontraditional Bonds | PMAIX vs SYFFX |
See all 262 diversifiers for PMAIX
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