Looking to diversify beyond PDT? The mutual funds below have the lowest correlation with PDT — 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 PDT.
Best Diversifiers for PDT
6 mutual funds have low correlation with PDT (below 0.3), 0 of which are negatively correlated. The least correlated is John Hancock California Municipal Bond Fund (TACAX) (Municipal Bonds) with a 1Y correlation of 0.14, roughly unchanged from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| John Hancock California Municipal Bond Fund | 0.14 | 0.23 | 0.21 | 57 | Municipal Bonds | PDT vs TACAX | |
| JHancock Municipal Opportunities Fund | 0.18 | 0.23 | 0.20 | 67 | Municipal Bonds | PDT vs TAMBX | |
| JHancock Short Duration Bond Fund | 0.24 | 0.27 | 0.29 | 75 | Short-Term Bond | PDT vs JSNIX | |
| John Hancock Variable Insurance Trust Science & Te... | 0.25 | 0.24 | 0.35 | 92 | Technology Equities | PDT vs JESTX | |
| John Hancock Emerging Markets Equity Fund | 0.25 | 0.31 | 0.35 | 75 | Emerging Markets Diversified | PDT vs JEMMX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PDT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PDT and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of 0.03, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | 0.03 | 0.23 | 0.24 | 69 | Consumer Defensive | |
| Plains All American Pipeline, L.P. | 0.05 | 0.27 | 0.33 | 87 | Energy | |
| Energy Transfer LP | 0.09 | 0.26 | 0.32 | 69 | Energy | |
| Enterprise Products Partners L.P. | 0.12 | 0.26 | 0.33 | 85 | Energy | |
| Sabra Health Care REIT, Inc. | 0.13 | 0.25 | 0.31 | 54 | Real Estate |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PDT
Add PDT to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PDT