Looking to diversify beyond PDPAX? The mutual funds below have historically moved differently from PDPAX, 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 PDPAX
3 mutual funds have low correlation with PDPAX (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 0.07, down from 0.28 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 | 0.07 | 0.18 | 0.28 | 97 | Bank Loan | PDPAX vs SAMBX | |
| LoCorr Macro Strategies Fund Class I | 0.23 | 0.05 | -0.03 | 83 | Global Allocation | PDPAX vs LFMIX | |
| The Merger Fund | 0.29 | 0.28 | 0.32 | 97 | Event Driven | PDPAX vs MERFX | |
| MH Elite Select Portfolio of Funds Fund | 0.35 | 0.35 | 0.52 | 75 | Global Allocation | PDPAX vs MHESX | |
| Allspring Absolute Return Fund | 0.38 | 0.55 | 0.58 | 86 | Global Allocation | PDPAX vs WARAX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PDPAX
Add PDPAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PDPAX