Looking to diversify beyond PMNPX? The mutual funds below have historically moved differently from PMNPX, 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 PMNPX
10 mutual funds have low correlation with PMNPX (below 0.3), 2 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.18, down from 0.02 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 | -0.18 | -0.03 | 0.02 | 69 | Commodities | PMNPX vs PCRIX | |
| DFA Municipal Real Return Portfolio | -0.03 | 0.19 | 0.25 | 94 | Municipal Bonds | PMNPX vs DMREX | |
| JPMorgan Ultra-Short Municipal Fund | 0.22 | 0.34 | 0.39 | 98 | Municipal Bonds | PMNPX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.23 | 0.33 | 0.42 | 99 | Municipal Bonds | PMNPX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 0.25 | 0.27 | 0.37 | 100 | Municipal Bonds | PMNPX vs DFSMX |
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