Looking to diversify beyond PMYRX? The mutual funds below have historically moved differently from PMYRX, 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 PMYRX
2 mutual funds have low correlation with PMYRX (below 0.3), 1 of which are negatively correlated. The least correlated is BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) (Tactical Allocation) with a 1Y correlation of -0.02, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund Institutiona... | -0.02 | 0.25 | 0.21 | 85 | Tactical Allocation | PMYRX vs PBAIX | |
| Pioneer ILS Interval Fund | 0.11 | 0.05 | 0.02 | 100 | High Yield Bonds | PMYRX vs XILSX | |
| Pioneer Multi-Asset Ultrashort Income Fund | 0.32 | 0.23 | 0.20 | 99 | Ultrashort Bond | PMYRX vs MYFRX | |
| AQR Diversifying Strategies Fund Class N | 0.33 | 0.28 | 0.19 | 92 | Tactical Allocation | PMYRX vs QDSNX | |
| Pioneer Securitized Income Fund | 0.34 | 0.24 | 0.18 | 80 | Nontraditional Bonds | PMYRX vs SYFFX |
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