Looking to diversify beyond PTXFX? The mutual funds below have the lowest correlation with PTXFX — 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 PTXFX.
Best Diversifiers for PTXFX
10 mutual funds have low correlation with PTXFX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.11, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.11 | 0.20 | 0.15 | 99 | Municipal Bonds | PTXFX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.14 | 0.21 | 0.19 | 99 | Municipal Bonds | PTXFX vs TFCYX | |
| DFA NY Municipal Bond Portfolio | 0.17 | 0.29 | 0.38 | 99 | Municipal Bonds | PTXFX vs DNYMX | |
| abrdn Ultra Short Municipal Income Fund | 0.20 | 0.24 | 0.25 | 99 | Municipal Bonds | PTXFX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 0.20 | 0.27 | 0.36 | 100 | Municipal Bonds | PTXFX vs DFSMX |
See all 19 diversifiers for PTXFX
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