Looking to diversify beyond PML? The mutual funds below have the lowest correlation with PML — 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 PML.
Best Diversifiers for PML
11 mutual funds have low correlation with PML (below 0.3), 0 of which are negatively correlated. The least correlated is DFA NY Municipal Bond Portfolio (DNYMX) (Municipal Bonds) with a 1Y correlation of 0.06, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA NY Municipal Bond Portfolio | 0.06 | 0.22 | 0.28 | 99 | Municipal Bonds | PML vs DNYMX | |
| Federated Hermes Conservative Municipal Microshort... | 0.08 | 0.08 | 0.06 | 99 | Municipal Bonds | PML vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.09 | 0.08 | 0.07 | 99 | Municipal Bonds | PML vs TFCYX | |
| JPMorgan Ultra-Short Municipal Fund | 0.09 | 0.19 | 0.20 | 99 | Municipal Bonds | PML vs USMSX | |
| abrdn Ultra Short Municipal Income Fund | 0.12 | 0.08 | 0.08 | 99 | Municipal Bonds | PML vs ATOIX |
See all 15 diversifiers for PML
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