Looking to diversify beyond PWRIX? The mutual funds below have the lowest correlation with PWRIX — 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 PWRIX.
Best Diversifiers for PWRIX
10 mutual funds have low correlation with PWRIX (below 0.3), 1 of which are negatively correlated. The least correlated is Artisan Global Unconstrained Fund (APFPX) (Nontraditional Bonds) with a 1Y correlation of -0.16, roughly unchanged from -0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Artisan Global Unconstrained Fund | -0.16 | -0.28 | -0.24 | 99 | Nontraditional Bonds | PWRIX vs APFPX | |
| T. Rowe Price Dynamic Credit Fund | 0.05 | -0.02 | -0.04 | 83 | Nontraditional Bonds | PWRIX vs RPIDX | |
| Victory Pioneer Cat Bond Fund Class Y | 0.07 | -0.05 | -0.05 | 100 | Nontraditional Bonds | PWRIX vs CBYYX | |
| Putnam Mortgage Opportunities Fund | 0.08 | 0.04 | 0.12 | 66 | Nontraditional Bonds | PWRIX vs PMOTX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.09 | 0.15 | 0.05 | 99 | Nontraditional Bonds | PWRIX vs EIGMX |
See all 18 diversifiers for PWRIX
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