Looking to diversify beyond PBDIX? The mutual funds below have historically moved differently from PBDIX, 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 PBDIX
4 mutual funds have low correlation with PBDIX (below 0.3), 0 of which are negatively correlated. The least correlated is JPMorgan Strategic Income Opportunities Fund Class I (JSOSX) (Total Bond Market) with a 1Y correlation of 0.12, up from -0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Strategic Income Opportunities Fund Class... | 0.12 | -0.21 | -0.26 | 99 | Total Bond Market | PBDIX vs JSOSX | |
| Fidelity Flex Conservative Income Bond Fund | 0.15 | 0.21 | 0.26 | 100 | Total Bond Market | PBDIX vs FJTDX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.17 | 0.32 | 0.32 | 100 | Ultrashort Bond | PBDIX vs FCNVX | |
| T. Rowe Price Institutional Floating Rate Fund | 0.21 | 0.22 | 0.19 | 79 | Bank Loan | PBDIX vs RPIFX | |
| T. Rowe Price Equity Index 500 Fund | 0.30 | 0.20 | 0.14 | 62 | Large Cap Blend Equities | PBDIX vs PREIX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PBDIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.19, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.19 | 0.15 | 0.12 | 89 | Technology |
Build a portfolio that complements PBDIX
Add PBDIX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PBDIX