Looking to diversify beyond PQIPX? The mutual funds below have the lowest correlation with PQIPX — 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 PQIPX.
Best Diversifiers for PQIPX
4 mutual funds have low correlation with PQIPX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Amundi Strategic Income Fund (NWXHX) (Multisector Bonds) with a 1Y correlation of 0.06, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Amundi Strategic Income Fund | 0.06 | 0.17 | 0.10 | 99 | Multisector Bonds | PQIPX vs NWXHX | |
| Parametric Commodity Strategy Fund Class A | 0.14 | 0.24 | 0.32 | 55 | Commodities | PQIPX vs EAPCX | |
| LoCorr Macro Strategies Fund Class I | 0.22 | -0.00 | -0.09 | 85 | Global Allocation | PQIPX vs LFMIX | |
| Holbrook Income Fund | 0.25 | 0.26 | 0.26 | 97 | Short-Term Bond | PQIPX vs HOBEX | |
| MH Elite Select Portfolio of Funds Fund | 0.39 | 0.39 | 0.59 | 57 | Global Allocation | PQIPX vs MHESX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PQIPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PQIPX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of 0.01, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | 0.01 | 0.20 | 0.36 | 68 | Energy | |
| Chevron Corporation | 0.03 | 0.22 | 0.38 | 68 | Energy | |
| Shell plc | 0.24 | 0.36 | 0.45 | 61 | Energy | |
| Cisco Systems, Inc. | 0.27 | 0.39 | 0.51 | 94 | Technology |
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