Looking to diversify beyond PMBIX? The mutual funds below have historically moved differently from PMBIX, 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 PMBIX
2 mutual funds have low correlation with PMBIX (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 -0.22, down from 0.06 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 | -0.22 | 0.02 | 0.06 | 69 | Commodities | PMBIX vs PCRIX | |
| PIMCO RAE US Small Fund | 0.30 | 0.23 | 0.13 | 86 | Small Cap Value Equities | PMBIX vs PMJIX | |
| Fidelity Capital & Income Fund | 0.30 | 0.33 | 0.31 | 74 | High Yield Bonds | PMBIX vs FAGIX | |
| Vanguard Institutional Index Fund Institutional Sh... | 0.32 | 0.22 | 0.16 | 63 | S&P 500, Large Cap Blend Equities | PMBIX vs VINIX | |
| Vanguard California Intermediate-Term Tax-Exempt F... | 0.63 | 0.64 | 0.56 | 65 | Municipal Bonds, Intermediate Core Bond, Investment Grade Bonds, Actively Managed | PMBIX vs VCAIX |
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