Looking to diversify beyond PMJAX? The mutual funds below have historically moved differently from PMJAX, 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 PMJAX
1 mutual funds have low correlation with PMJAX (below 0.3), 0 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of 0.00, down from 0.23 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 | 0.00 | 0.11 | 0.23 | 69 | Commodities | PMJAX vs PCRIX | |
| Federated Hermes Clover Small Value Fund | 0.34 | 0.59 | 0.75 | 71 | Small Cap Value Equities | PMJAX vs VSFAX | |
| PIMCO Income Fund Institutional Class | 0.39 | 0.30 | 0.32 | 52 | Multisector Bonds | PMJAX vs PIMIX | |
| Aegis Value Fund Class I | 0.40 | 0.50 | 0.60 | 94 | Small Cap Value Equities | PMJAX vs AVALX | |
| Palm Valley Capital Fund Investor Class | 0.66 | 0.66 | 0.64 | 73 | Small Cap Value Equities | PMJAX vs PVCMX |
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