Looking to diversify beyond PURZX? The mutual funds below have the lowest correlation with PURZX — 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 PURZX.
Best Diversifiers for PURZX
3 mutual funds have low correlation with PURZX (below 0.3), 1 of which are negatively correlated. The least correlated is TIAA Real Estate Account (QREARX) (REIT) with a 1Y correlation of -0.22, roughly unchanged from -0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| TIAA Real Estate Account | -0.22 | -0.16 | -0.16 | 98 | REIT | PURZX vs QREARX | |
| Redwood Real Estate Income Fund | 0.00 | — | — | 100 | REIT | PURZX vs CREMX | |
| PGIM Floating Rate Income Fund | 0.19 | 0.24 | 0.27 | 96 | Bank Loan | PURZX vs FRFZX | |
| BNY Mellon Natural Resources Fund | 0.34 | 0.42 | 0.43 | 59 | Energy Equities | PURZX vs DLDRX | |
| PGIM Short-Term Corporate Bond Fund | 0.42 | 0.37 | 0.32 | 57 | Short-Term Bond | PURZX vs PBSMX |
See all 16 diversifiers for PURZX
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Diversification Analysis
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