Looking to diversify beyond PDHVX? The mutual funds below have historically moved differently from PDHVX, 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 PDHVX
0 mutual funds have low correlation with PDHVX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Jennison Small Company Fund (PGOAX) (Small Cap Growth Equities) with a 1Y correlation of 0.39, roughly unchanged from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Jennison Small Company Fund | 0.39 | 0.34 | 0.30 | 67 | Small Cap Growth Equities | PDHVX vs PGOAX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.43 | 0.37 | 0.39 | 57 | Emerging Markets Bonds | PDHVX vs EDD | |
| PGIM Floating Rate Income Fund | 0.45 | 0.37 | 0.40 | 97 | Bank Loan | PDHVX vs FRFZX | |
| PGIM 60/40 Allocation Fund | 0.50 | 0.45 | 0.41 | 76 | Diversified Portfolio | PDHVX vs PALDX | |
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.51 | 0.54 | 0.60 | 98 | Emerging Markets Bonds | PDHVX vs DBLLX |
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