Looking to diversify beyond PDBZX? The mutual funds below have historically moved differently from PDBZX, 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 PDBZX
13 mutual funds have low correlation with PDBZX (below 0.3), 2 of which are negatively correlated. The least correlated is PGIM Quant Solutions Commodity Strategies Fund (PQCMX) (Commodities) with a 1Y correlation of -0.27, down from -0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Quant Solutions Commodity Strategies Fund | -0.27 | -0.14 | -0.07 | 78 | Commodities | PDBZX vs PQCMX | |
| PGIM Jennison MLP Fund | -0.18 | 0.01 | 0.01 | 75 | Energy Equities | PDBZX vs PRPZX | |
| PGIM Jennison Natural Resources R6 | 0.07 | 0.09 | 0.04 | 78 | Natural Resources | PDBZX vs PJNQX | |
| PGIM Jennison Natural Resources Fund | 0.07 | 0.09 | 0.04 | 79 | Energy Equities | PDBZX vs PGNAX | |
| Federated Hermes Strategic Value Dividend Fund | 0.19 | 0.29 | 0.19 | 94 | Large Cap Value Equities | PDBZX vs SVAIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PDBZX, 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 Pathward Financial, Inc. (CASH) (Financial Services) with a 1Y correlation of 0.16, up from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pathward Financial, Inc. | 0.16 | 0.08 | 0.04 | 61 | Financial Services |
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