Looking to diversify beyond PDPAX? The mutual funds below have the lowest correlation with PDPAX — 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 PDPAX.
Best Diversifiers for PDPAX
2 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 0.08, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus Seix Floating Rate High Income Fund | 0.08 | 0.20 | 0.28 | 97 | Bank Loan | PDPAX vs SAMBX | |
| LoCorr Macro Strategies Fund Class I | 0.26 | 0.04 | -0.02 | 85 | Global Allocation | PDPAX vs LFMIX | |
| The Merger Fund | 0.30 | 0.29 | 0.31 | 97 | Event Driven | PDPAX vs MERFX | |
| Virtus Artificial Intelligence & Technology Opport... | 0.31 | 0.39 | 0.48 | 56 | Technology Equities | PDPAX vs AIO | |
| MH Elite Select Portfolio of Funds Fund | 0.37 | 0.37 | 0.53 | 57 | Global Allocation | PDPAX vs MHESX |
See all 20 diversifiers for PDPAX
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