Looking to diversify beyond PMEFX? The mutual funds below have the lowest correlation with PMEFX — 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 PMEFX.
Best Diversifiers for PMEFX
11 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 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | -0.10 | 0.16 | 0.48 | 67 | Diversified Portfolio | PMEFX vs MHELX | |
| SEI Asset Allocation Trust Defensive Strategy Allo... | 0.14 | 0.37 | 0.44 | 99 | Diversified Portfolio | PMEFX vs STDAX | |
| Fidelity Strategic Real Return Fund | 0.20 | 0.60 | 0.67 | 87 | Diversified Portfolio | PMEFX vs FSRRX | |
| Chartwell Income Fund | 0.20 | 0.59 | 0.66 | 58 | Diversified Portfolio | PMEFX vs BERIX | |
| PGIM Real Assets Fund | 0.21 | 0.58 | 0.67 | 75 | Diversified Portfolio | PMEFX vs PUDZX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PMEFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PMEFX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.10, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.10 | 0.11 | 0.23 | 70 | Consumer Defensive |
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