Looking to diversify beyond PDAVX? The mutual funds below have historically moved differently from PDAVX, 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 PDAVX
3 mutual funds have low correlation with PDAVX (below 0.3), 0 of which are negatively correlated. The least correlated is LoCorr Macro Strategies Fund Class I (LFMIX) (Global Allocation) with a 1Y correlation of 0.20, up from -0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| LoCorr Macro Strategies Fund Class I | 0.20 | 0.08 | -0.09 | 83 | Global Allocation | PDAVX vs LFMIX | |
| Wilmington Real Asset Fund | 0.25 | 0.44 | 0.49 | 92 | Global Allocation | PDAVX vs WMRIX | |
| MH Elite Select Portfolio of Funds Fund | 0.28 | 0.35 | 0.56 | 75 | Global Allocation | PDAVX vs MHESX | |
| Hartford Real Asset Fund | 0.33 | 0.46 | 0.55 | 97 | Global Allocation | PDAVX vs HRLYX | |
| Cohen & Steers Real Assets Fund Inc | 0.38 | 0.50 | 0.55 | 61 | Global Allocation | PDAVX vs RAPZX |
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