Looking to diversify beyond PDDDX? The mutual funds below have the lowest correlation with PDDDX — 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 PDDDX.
Best Diversifiers for PDDDX
4 mutual funds have low correlation with PDDDX (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.00, roughly unchanged from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.00 | -0.02 | 0.00 | 100 | High Yield Bonds | PDDDX vs XILSX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.24 | 0.14 | 0.09 | 91 | Long-Short | PDDDX vs BDMIX | |
| BlackRock Global Equity Market Neutral Fund | 0.24 | 0.14 | 0.09 | 91 | Equity Market Neutral | PDDDX vs BDMAX | |
| PGIM Floating Rate Income Fund | 0.28 | 0.29 | 0.31 | 94 | Bank Loan | PDDDX vs FRFZX | |
| AQR Long-Short Equity Fund | 0.31 | 0.30 | 0.25 | 61 | Long-Short | PDDDX vs QLEIX |
See all 418 diversifiers for PDDDX
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