Looking to diversify beyond PMPIX? The mutual funds below have historically moved differently from PMPIX, 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 PMPIX
3 mutual funds have low correlation with PMPIX (below 0.3), 1 of which are negatively correlated. The least correlated is ProFunds UltraSector Oil & Gas Fund (ENPIX) (Leveraged Equities) with a 1Y correlation of -0.06, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraSector Oil & Gas Fund | -0.06 | 0.09 | 0.20 | 63 | Leveraged Equities | PMPIX vs ENPIX | |
| Oil Equipment & Services UltraSector ProFund | 0.19 | 0.23 | 0.27 | 77 | Energy Equities | PMPIX vs OEPIX | |
| ProFunds Pharmaceuticals UltraSector Fund | 0.23 | 0.21 | 0.23 | 95 | Leveraged Equities | PMPIX vs PHPIX | |
| ProFunds Small Cap Value Fund | 0.31 | 0.26 | 0.27 | 81 | Small Cap Value Equities | PMPIX vs SVPIX | |
| ProFunds Biotechnology UltraSector Fund | 0.32 | 0.25 | 0.25 | 94 | Leveraged Equities | PMPIX vs BIPIX |
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