Looking to diversify beyond TMPFX? The mutual funds below have historically moved differently from TMPFX, 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 TMPFX
67 mutual funds have low correlation with TMPFX (below 0.3), 15 of which are negatively correlated. The least correlated is PIMCO Short Asset Investment Fund (PAIPX) (Ultrashort Bond) with a 1Y correlation of -0.14, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Short Asset Investment Fund | -0.14 | 0.02 | 0.02 | 100 | Ultrashort Bond | TMPFX vs PAIPX | |
| Allspring Ultra Short-Term Income Fund | -0.10 | -0.06 | -0.04 | 99 | Ultrashort Bond | TMPFX vs SADIX | |
| PIMCO Short Term Fund | -0.09 | -0.02 | 0.01 | 99 | Ultrashort Bond | TMPFX vs PTSHX | |
| Federated Hermes Government Ultrashort Fund | -0.07 | -0.03 | — | 99 | Ultrashort Bond | TMPFX vs FGUSX | |
| RBC Ultra-Short Fixed Income Fund | -0.07 | -0.01 | -0.01 | 98 | Ultrashort Bond | TMPFX vs RUSIX |
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