Looking to diversify beyond PDINX? The mutual funds below have the lowest correlation with PDINX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PDINX.
Best Diversifiers for PDINX
9 mutual funds have low correlation with PDINX (below 0.3), 1 of which are negatively correlated. The least correlated is Artisan Global Unconstrained Fund (APFPX) (Nontraditional Bonds) with a 1Y correlation of -0.11, up from -0.26 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Artisan Global Unconstrained Fund | -0.11 | -0.26 | — | 99 | Nontraditional Bonds | PDINX vs APFPX | |
| Victory Pioneer Cat Bond Fund Class Y | 0.02 | — | — | 100 | Nontraditional Bonds | PDINX vs CBYYX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.10 | 0.18 | 0.17 | 99 | Nontraditional Bonds | PDINX vs EIGMX | |
| Dunham Long/Short Credit Fund | 0.15 | -0.01 | -0.02 | 94 | Nontraditional Bonds | PDINX vs DCAIX | |
| PGIM Securitized Credit Fund | 0.16 | -0.01 | 0.04 | 99 | Nontraditional Bonds | PDINX vs SCFZX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PDINX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PDINX and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.19, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.19 | 0.16 | 0.22 | 60 | Consumer Cyclical |
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