Looking to diversify beyond PDAVX? The mutual funds below have the lowest correlation with PDAVX — 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 PDAVX.
Best Diversifiers for PDAVX
2 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 0.19, up from -0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| LoCorr Macro Strategies Fund Class I | 0.19 | 0.05 | -0.08 | 88 | Global Allocation | PDAVX vs LFMIX | |
| Wilmington Real Asset Fund | 0.28 | 0.46 | 0.52 | 84 | Global Allocation | PDAVX vs WMRIX | |
| Hartford Real Asset Fund | 0.37 | 0.49 | 0.58 | 97 | Global Allocation | PDAVX vs HRLYX | |
| MH Elite Select Portfolio of Funds Fund | 0.45 | 0.40 | 0.60 | 55 | Global Allocation | PDAVX vs MHESX | |
| Allspring Absolute Return Fund | 0.47 | 0.61 | 0.57 | 94 | Global Allocation | PDAVX vs WARAX |
See all 18 diversifiers for PDAVX
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