Looking to diversify beyond PDINX? The mutual funds below have historically moved differently from PDINX, 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 PDINX
8 mutual funds have low correlation with PDINX (below 0.3), 2 of which are negatively correlated. The least correlated is Artisan Global Unconstrained Fund (APFPX) (Nontraditional Bonds) with a 1Y correlation of -0.14, up from -0.24 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Artisan Global Unconstrained Fund | -0.14 | -0.24 | — | 99 | Nontraditional Bonds | PDINX vs APFPX | |
| Victory Pioneer Cat Bond Fund Class Y | -0.01 | — | — | 100 | Nontraditional Bonds | PDINX vs CBYYX | |
| Cliffwater Enhanced Lending Fund | 0.06 | 0.03 | 0.03 | 100 | Nontraditional Bonds | PDINX vs CELFX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.09 | 0.17 | 0.16 | 99 | Nontraditional Bonds | PDINX vs EIGMX | |
| PGIM Securitized Credit Fund | 0.15 | 0.01 | 0.04 | 100 | Nontraditional Bonds | PDINX vs SCFZX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PDINX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.32, roughly unchanged from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.32 | 0.17 | 0.24 | 72 | Consumer Cyclical |
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