Looking to diversify beyond PSRAX? The mutual funds below have the lowest correlation with PSRAX — 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 PSRAX.
Best Diversifiers for PSRAX
9 mutual funds have low correlation with PSRAX (below 0.3), 1 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of -0.01, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | -0.01 | 0.26 | 0.21 | 99 | Multisector Bonds | PSRAX vs NWXEX | |
| Pioneer ILS Interval Fund | 0.02 | 0.02 | 0.03 | 100 | High Yield Bonds | PSRAX vs XILSX | |
| Nationwide Amundi Strategic Income Fund | 0.07 | 0.29 | 0.22 | 99 | Multisector Bonds | PSRAX vs NWXHX | |
| CrossingBridge Responsible Credit Fund | 0.09 | 0.11 | — | 68 | Multisector Bonds | PSRAX vs CBRDX | |
| CrossingBridge Low Duration High Yield Fund | 0.18 | 0.19 | 0.17 | 97 | Multisector Bonds | PSRAX vs CBLDX |
See all 29 diversifiers for PSRAX
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