Looking to diversify beyond PNYIX? The mutual funds below have historically moved differently from PNYIX, 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 PNYIX
11 mutual funds have low correlation with PNYIX (below 0.3), 2 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.16, down from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.16 | -0.03 | 0.01 | 70 | Commodities | PNYIX vs PCRIX | |
| DFA California Municipal Real Return Portfolio | -0.02 | 0.16 | 0.23 | 89 | Municipal Bonds | PNYIX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.02 | 0.19 | 0.24 | 92 | Municipal Bonds | PNYIX vs DMREX | |
| PIMCO RAE US Small Fund | 0.20 | 0.14 | 0.08 | 85 | Small Cap Value Equities | PNYIX vs PMJIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.24 | 0.32 | 0.38 | 98 | Municipal Bonds | PNYIX vs USMSX |
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