Looking to diversify beyond PMEFX? The mutual funds below have historically moved differently from PMEFX, 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 PMEFX
29 mutual funds have low correlation with PMEFX (below 0.3), 1 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of -0.10, down from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | -0.10 | 0.13 | 0.46 | 66 | Diversified Portfolio | PMEFX vs MHELX | |
| SEI Institutional Managed Trust Multi-Asset Inflat... | 0.04 | 0.15 | 0.27 | 83 | Diversified Portfolio | PMEFX vs SIFAX | |
| SEI Asset Allocation Trust Defensive Strategy Allo... | 0.10 | 0.35 | 0.44 | 99 | Diversified Portfolio | PMEFX vs STDAX | |
| Timothy Plan Defensive Strategies Fund | 0.18 | 0.46 | 0.60 | 72 | Diversified Portfolio | PMEFX vs TPDAX | |
| Fidelity Strategic Real Return Fund | 0.18 | 0.58 | 0.66 | 95 | Diversified Portfolio | PMEFX vs FSRRX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PMEFX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.10, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.10 | 0.10 | 0.21 | 66 | Consumer Defensive |
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