Looking to diversify beyond PSPFX? The mutual funds below have historically moved differently from PSPFX, 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 PSPFX
30 mutual funds have low correlation with PSPFX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco SteelPath MLP Income Fund (MLPZX) (Energy Equities) with a 1Y correlation of 0.09, down from 0.53 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco SteelPath MLP Income Fund | 0.09 | 0.34 | 0.53 | 85 | Energy Equities | PSPFX vs MLPZX | |
| Goldman Sachs MLP Energy Infrastructure Fund | 0.11 | 0.36 | 0.55 | 76 | Infrastructure Equities, Energy Equities | PSPFX vs GLPIX | |
| Invesco SteelPath MLP Alpha Plus Fund | 0.11 | 0.35 | 0.54 | 79 | Energy Equities | PSPFX vs MLPNX | |
| Invesco SteelPath MLP Alpha Fund | 0.12 | 0.36 | 0.54 | 81 | Energy Equities | PSPFX vs MLPOX | |
| Tortoise MLP & Pipeline Fund | 0.13 | 0.39 | 0.57 | 80 | Energy Equities | PSPFX vs TORIX |
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