Looking to diversify beyond PNIGX? The mutual funds below have the lowest correlation with PNIGX — 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 PNIGX.
Best Diversifiers for PNIGX
11 mutual funds have low correlation with PNIGX (below 0.3), 1 of which are negatively correlated. The least correlated is BlackRock Global Long/Short Equity Fund Class I (BDMIX) (Long-Short) with a 1Y correlation of -0.00, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Long/Short Equity Fund Class I | -0.00 | 0.01 | 0.01 | 92 | Long-Short | PNIGX vs BDMIX | |
| Shelton Capital Management Nasdaq-100 Index Fund D... | 0.01 | 0.12 | 0.12 | 75 | Large Cap Growth Equities | PNIGX vs NASDX | |
| Vanguard Tax-Managed Capital Appreciation Fund Adm... | 0.04 | 0.17 | 0.14 | 70 | Large Cap Blend Equities | PNIGX vs VTCLX | |
| iShares S&P 500 Index Fund | 0.04 | 0.17 | 0.13 | 73 | S&P 500 | PNIGX vs WFSPX | |
| DFA Short-Term Government Portfolio | 0.07 | 0.03 | 0.34 | 62 | Government Bonds | PNIGX vs DFFGX |
See all 17 diversifiers for PNIGX
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