Looking to diversify beyond PONAX? The mutual funds below have historically moved differently from PONAX, 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 PONAX
20 mutual funds have low correlation with PONAX (below 0.3), 11 of which are negatively correlated. The least correlated is PIMCO CommoditiesPLUS Strategy Fund (PCLIX) (Commodities) with a 1Y correlation of -0.43, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO CommoditiesPLUS Strategy Fund | -0.43 | -0.18 | -0.03 | 72 | Commodities | PONAX vs PCLIX | |
| PIMCO CommoditiesPLUS Strategy Fund | -0.43 | -0.18 | -0.03 | 70 | Commodities | PONAX vs PCLAX | |
| PIMCO CommoditiesPLUS Strategy I2 | -0.42 | -0.17 | -0.03 | 70 | Commodities | PONAX vs PCLPX | |
| PIMCO Commodity Real Return Strategy Fund Class A | -0.23 | 0.03 | 0.13 | 64 | Commodities | PONAX vs PCRAX | |
| PIMCO Commodity Real Return Strategy Fund | -0.20 | 0.03 | 0.13 | 69 | Commodities | PONAX vs PCRIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PONAX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of 0.14, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | 0.14 | 0.18 | 0.14 | 81 | Healthcare | |
| Berkshire Hathaway Inc. | 0.14 | 0.14 | 0.21 | 61 | Financial Services | |
| Texas Instruments Incorporated | 0.21 | 0.19 | 0.25 | 82 | Technology | |
| Apple Inc | 0.21 | 0.20 | 0.27 | 89 | Technology | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.47 | 0.56 | 0.53 | 78 | Financial Services |
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