Looking to diversify beyond PDIIX? The mutual funds below have historically moved differently from PDIIX, 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 PDIIX
4 mutual funds have low correlation with PDIIX (below 0.3), 1 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.25, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.25 | -0.02 | 0.08 | 69 | Commodities | PDIIX vs PCRIX | |
| Nationwide Strategic Income A | 0.18 | 0.27 | 0.20 | 99 | Multisector Bonds | PDIIX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.21 | 0.30 | 0.20 | 99 | Multisector Bonds | PDIIX vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.26 | 0.29 | 0.29 | 96 | Multisector Bonds | PDIIX vs CBLDX | |
| PIMCO RAE US Small Fund | 0.41 | 0.36 | 0.31 | 86 | Small Cap Value Equities | PDIIX vs PMJIX |
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