Looking to diversify beyond PDEZX? The mutual funds below have historically moved differently from PDEZX, 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 PDEZX
4 mutual funds have low correlation with PDEZX (below 0.3), 0 of which are negatively correlated. The least correlated is Goldman Sachs GQG Partners International Opportunities Fund Class R6 (GSIYX) (Foreign Large Cap Equities) with a 1Y correlation of 0.18, down from 0.54 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs GQG Partners International Opportuni... | 0.18 | 0.48 | 0.54 | 56 | Foreign Large Cap Equities, Emerging Markets Equities | PDEZX vs GSIYX | |
| PGIM Short-Term Corporate Bond Fund | 0.22 | 0.13 | 0.13 | 66 | Short-Term Bond | PDEZX vs PBSMX | |
| The Cook & Bynum Fund | 0.23 | 0.34 | 0.41 | 66 | Emerging Markets Equities | PDEZX vs COBYX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.29 | 0.14 | 0.14 | 63 | Short-Term Bond | PDEZX vs SDMZX | |
| PGIM Floating Rate Income Fund | 0.31 | 0.23 | 0.26 | 97 | Bank Loan | PDEZX vs FRFZX |
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