Looking to diversify beyond PZRIX? The mutual funds below have historically moved differently from PZRIX, 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 PZRIX
1 mutual funds have low correlation with PZRIX (below 0.3), 0 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of 0.23, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | 0.23 | 0.29 | 0.34 | 69 | Commodities | PZRIX vs PCRIX | |
| PIMCO Income Fund Institutional Class | 0.41 | 0.38 | 0.42 | 52 | Multisector Bonds | PZRIX vs PIMIX | |
| PIMCO RAE US Small Fund | 0.53 | 0.61 | 0.67 | 86 | Small Cap Value Equities | PZRIX vs PMJIX | |
| Fidelity Canada Fund | 0.53 | 0.65 | 0.73 | 66 | Foreign Large Cap Equities | PZRIX vs FICDX | |
| Fidelity Series Canada Fund | 0.53 | 0.65 | 0.74 | 76 | Foreign Large Cap Equities | PZRIX vs FCNSX |
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