Looking to diversify beyond PTIAX? The mutual funds below have historically moved differently from PTIAX, 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 PTIAX
2 mutual funds have low correlation with PTIAX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of -0.04, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | -0.04 | 0.02 | 0.07 | 94 | Bank Loan | PTIAX vs FFRHX | |
| AQR Diversifying Strategies Fund - Class I | 0.05 | 0.08 | -0.08 | 95 | Multistrategy | PTIAX vs QDSIX | |
| American Funds The Income Fund of America Class A | 0.34 | 0.33 | 0.27 | 82 | Diversified Portfolio, Dividend | PTIAX vs AMECX | |
| Holbrook Income Fund Class I | 0.35 | 0.30 | 0.38 | 98 | Intermediate Core-Plus Bond | PTIAX vs HOBIX | |
| Leader Capital High Quality Income Fund Institutio... | 0.51 | 0.25 | 0.17 | 86 | Intermediate Core-Plus Bond | PTIAX vs LCTIX |
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