Looking to diversify beyond PMNPX? The mutual funds below have the lowest correlation with PMNPX — 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 PMNPX.
Best Diversifiers for PMNPX
10 mutual funds have low correlation with PMNPX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA Municipal Real Return Portfolio (DMREX) (Municipal Bonds) with a 1Y correlation of -0.02, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Municipal Real Return Portfolio | -0.02 | 0.20 | 0.25 | 94 | Municipal Bonds | PMNPX vs DMREX | |
| DFA NY Municipal Bond Portfolio | 0.19 | 0.33 | 0.42 | 99 | Municipal Bonds | PMNPX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 0.19 | 0.27 | 0.37 | 99 | Municipal Bonds | PMNPX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.21 | 0.31 | — | 100 | Municipal Bonds | PMNPX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.22 | 0.33 | 0.39 | 99 | Municipal Bonds | PMNPX vs USMSX |
See all 22 diversifiers for PMNPX
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