Looking to diversify beyond PMFYX? The mutual funds below have the lowest correlation with PMFYX — 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 PMFYX.
Best Diversifiers for PMFYX
6 mutual funds have low correlation with PMFYX (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 0.06, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.06 | 0.09 | 0.06 | 100 | High Yield Bonds | PMFYX vs XILSX | |
| LoCorr Macro Strategies Fund Class I | 0.21 | 0.04 | -0.05 | 85 | Global Allocation | PMFYX vs LFMIX | |
| Pioneer Multi-Asset Ultrashort Income Fund | 0.24 | 0.24 | 0.25 | 98 | Ultrashort Bond | PMFYX vs MYFRX | |
| Janus Henderson Global Technology and Innovation F... | 0.26 | 0.25 | 0.33 | 72 | Technology Equities | PMFYX vs JATIX | |
| AQR Long-Short Equity Fund | 0.29 | 0.28 | 0.36 | 53 | Long-Short | PMFYX vs QLEIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PMFYX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PMFYX and solid risk/return profiles. The least correlated is Reaves Utility Income Trust (UTG) (Financial Services) with a 1Y correlation of 0.31, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Reaves Utility Income Trust | 0.31 | 0.39 | 0.42 | 81 | Financial Services |
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