Looking to diversify beyond PNIGX? The mutual funds below have historically moved differently from PNIGX, 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 PNIGX
20 mutual funds have low correlation with PNIGX (below 0.3), 1 of which are negatively correlated. The least correlated is BlackRock Global Equity Market Neutral Fund Class I (BDMIX) (Equity Market Neutral) with a 1Y correlation of -0.01, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Equity Market Neutral Fund Class ... | -0.01 | 0.00 | 0.01 | 97 | Equity Market Neutral | PNIGX vs BDMIX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.01 | -0.15 | -0.35 | 66 | Systematic Trend | PNIGX vs ASFYX | |
| Federated Hermes Adjustable Rate Fund | 0.02 | 0.51 | 0.50 | 99 | Government Bonds | PNIGX vs FEUGX | |
| DFA Short-Term Government Portfolio | 0.03 | 0.01 | 0.32 | 99 | Government Bonds | PNIGX vs DFFGX | |
| Vanguard Tax-Managed Capital Appreciation Fund Adm... | 0.04 | 0.16 | 0.14 | 62 | Large Cap Blend Equities | PNIGX vs VTCLX |
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