Looking to diversify beyond PDIAX? The mutual funds below have historically moved differently from PDIAX, 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 PDIAX
1 mutual funds have low correlation with PDIAX (below 0.3), 0 of which are negatively correlated. The least correlated is Virtus Seix Floating Rate High Income Fund (SAMBX) (Bank Loan) with a 1Y correlation of 0.17, roughly unchanged from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus Seix Floating Rate High Income Fund | 0.17 | 0.23 | 0.25 | 98 | Bank Loan | PDIAX vs SAMBX | |
| The Merger Fund | 0.32 | 0.29 | 0.35 | 96 | Event Driven | PDIAX vs MERFX | |
| Allspring Emerging Markets Equity Income Fund | 0.33 | 0.35 | 0.42 | 63 | Dividend, Emerging Markets Equities | PDIAX vs EQIIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.33 | 0.17 | 0.15 | 97 | Large Cap Blend Equities | PDIAX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.41 | 0.32 | 0.34 | 59 | Preferred Stock | PDIAX vs ORDNX |
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