Looking to diversify beyond PODAX? The mutual funds below have the lowest correlation with PODAX — 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 PODAX.
Best Diversifiers for PODAX
3 mutual funds have low correlation with PODAX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.19, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.19 | -0.01 | 0.11 | 58 | Diversified Portfolio | PODAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.01 | 0.15 | 0.50 | 69 | Diversified Portfolio | PODAX vs MHELX | |
| Pacific Funds Ultra Short Income | 0.16 | 0.11 | 0.13 | 99 | Ultrashort Bond | PODAX vs PLUIX | |
| Pacific Funds Short Duration Income | 0.33 | 0.28 | 0.28 | 93 | Short-Term Bond | PODAX vs PLSDX | |
| Pacific Funds Floating Rate Income | 0.33 | 0.34 | 0.34 | 84 | Bank Loan | PODAX vs PLFRX |
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