Looking to diversify beyond PWLIX? The mutual funds below have the lowest correlation with PWLIX — 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 PWLIX.
Best Diversifiers for PWLIX
22 mutual funds have low correlation with PWLIX (below 0.3), 14 of which are negatively correlated. The least correlated is Multi-Manager Directional Alternative Strategies Fund (CDAZX) (Long-Short) with a 1Y correlation of -0.29, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Multi-Manager Directional Alternative Strategies F... | -0.29 | -0.05 | 0.11 | 89 | Long-Short | PWLIX vs CDAZX | |
| Gotham Absolute Return Fund | -0.28 | -0.08 | -0.02 | 86 | Long-Short | PWLIX vs GARIX | |
| Meeder Spectrum Fund | -0.23 | -0.02 | -0.00 | 67 | Long-Short | PWLIX vs FLSPX | |
| AB Select US Long/Short Portfolio | -0.22 | -0.03 | 0.03 | 73 | Long-Short | PWLIX vs ASILX | |
| AQR Long-Short Equity Fund | -0.19 | -0.03 | 0.16 | 54 | Long-Short | PWLIX vs QLEIX |
See all 23 diversifiers for PWLIX
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