Looking to diversify beyond PDAHX? The mutual funds below have historically moved differently from PDAHX, 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 PDAHX
1 mutual funds have low correlation with PDAHX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Floating Rate Income Fund (FRFZX) (Bank Loan) with a 1Y correlation of 0.26, roughly unchanged from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.26 | 0.25 | 0.28 | 96 | Bank Loan | PDAHX vs FRFZX | |
| PGIM Jennison Small Company Fund | 0.71 | 0.71 | 0.73 | 72 | Small Cap Growth Equities | PDAHX vs PGOAX | |
| Connecticut Higher Education Trust 529 College Sav... | 0.71 | — | — | 59 | Target Retirement Date | PDAHX vs FAELX | |
| Fidelity Advisor 529 Aggressive Growth Portfolio C... | 0.73 | 0.72 | 0.76 | 59 | Target Retirement Date | PDAHX vs FFRGX | |
| Voya Target Retirement 2065 Fund | 0.74 | 0.79 | 0.80 | 80 | Target Retirement Date | PDAHX vs VTIUX |
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