Looking to diversify beyond PBDIX? The mutual funds below have the lowest correlation with PBDIX — 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 PBDIX.
Best Diversifiers for PBDIX
6 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 0.13, up from -0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Strategic Income Opportunities Fund Class... | 0.13 | -0.22 | -0.26 | 99 | Total Bond Market | PBDIX vs JSOSX | |
| T. Rowe Price Science And Technology Fund | 0.16 | 0.10 | 0.10 | 87 | Technology Equities | PBDIX vs PRSCX | |
| T. Rowe Price Institutional Floating Rate Fund | 0.20 | 0.23 | 0.19 | 88 | Bank Loan | PBDIX vs RPIFX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.20 | 0.34 | 0.33 | 99 | Total Bond Market | PBDIX vs FCNVX | |
| Fidelity Flex Conservative Income Bond Fund | 0.20 | 0.25 | 0.27 | 99 | Total Bond Market | PBDIX vs FJTDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PBDIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PBDIX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.17, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.17 | 0.15 | 0.11 | 88 | Technology |
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