Looking to diversify beyond PALDX? The mutual funds below have the lowest correlation with PALDX — 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 PALDX.
Best Diversifiers for PALDX
15 mutual funds have low correlation with PALDX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Jennison MLP Fund (PRPZX) (Energy Equities) with a 1Y correlation of 0.01, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Jennison MLP Fund | 0.01 | 0.28 | 0.42 | 58 | Energy Equities | PALDX vs PRPZX | |
| MH Elite Small Cap Fund of Funds Fund | 0.05 | 0.15 | 0.48 | 75 | Diversified Portfolio | PALDX vs MHELX | |
| PGIM Securitized Credit Fund | 0.09 | 0.03 | 0.06 | 100 | Nontraditional Bonds | PALDX vs SCFZX | |
| PGIM California Muni Income Fund | 0.18 | 0.21 | 0.16 | 70 | Municipal Bonds | PALDX vs PBCAX | |
| PGIM National Muni Fund | 0.20 | 0.21 | 0.17 | 74 | Municipal Bonds | PALDX vs PRNMX |
See all 363 diversifiers for PALDX
To view more results, upgrade your current subscription plan.
Diversification Analysis
Build a portfolio that complements PALDX
Add PALDX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PALDX