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
13 mutual funds have low correlation with PML (below 0.3), 1 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.13, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.13 | 0.02 | 0.07 | 75 | Commodities | PML vs PCRIX | |
| DFA NY Municipal Bond Portfolio | 0.02 | 0.22 | 0.28 | 99 | Municipal Bonds | PML vs DNYMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.07 | 0.19 | 0.20 | 99 | Municipal Bonds | PML vs USMSX | |
| Nuveen Arizona Quality Municipal Income Fund | 0.08 | 0.34 | 0.36 | 57 | Municipal Bonds | PML vs NAZ | |
| Federated Hermes Conservative Municipal Microshort... | 0.08 | 0.07 | 0.05 | 98 | Municipal Bonds | PML vs FHMIX |
See all 16 diversifiers for PML
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Diversification Analysis
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