Looking to diversify beyond PDRDX? The mutual funds below have the lowest correlation with PDRDX — 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 PDRDX.
Best Diversifiers for PDRDX
2 mutual funds have low correlation with PDRDX (below 0.3), 0 of which are negatively correlated. The least correlated is Principal Tax-Exempt Bond Fund (PTEAX) (Municipal Bonds) with a 1Y correlation of 0.21, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.21 | 0.25 | 0.19 | 56 | Municipal Bonds | PDRDX vs PTEAX | |
| Fidelity Growth Company Fund | 0.24 | 0.36 | 0.47 | 78 | Large Cap Growth Equities | PDRDX vs FDGRX | |
| PGIM High Yield Fund | 0.36 | 0.47 | 0.50 | 71 | High Yield Bonds | PDRDX vs PBHAX | |
| Calamos Global Dynamic Income Fund | 0.37 | 0.49 | 0.54 | 72 | Global Allocation | PDRDX vs CHW | |
| Calamos Global Total Return Fund | 0.39 | 0.42 | 0.48 | 51 | Global Allocation | PDRDX vs CGO |
See all 61 diversifiers for PDRDX
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