Looking to diversify beyond PSRAX? The mutual funds below have historically moved differently from PSRAX, 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 PSRAX
4 mutual funds have low correlation with PSRAX (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.06, roughly unchanged from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.06 | 0.03 | 0.03 | 100 | High Yield Bonds | PSRAX vs XILSX | |
| Nationwide Strategic Income A | 0.17 | 0.27 | 0.23 | 99 | Multisector Bonds | PSRAX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.18 | 0.29 | 0.23 | 99 | Multisector Bonds | PSRAX vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.22 | 0.20 | 0.17 | 96 | Multisector Bonds | PSRAX vs CBLDX | |
| Pioneer Mid Cap Value Fund | 0.32 | 0.20 | 0.14 | 85 | Mid Cap Value Equities | PSRAX vs PCGRX |
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