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
9 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 0.15, 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 | 0.15 | 0.23 | 0.21 | 64 | Municipal Bonds | PDT vs TACAX | |
| John Hancock High Yield Municipal Bond Fund | 0.17 | 0.23 | 0.21 | 53 | High Yield Muni | PDT vs JHTFX | |
| JHancock Municipal Opportunities Fund | 0.18 | 0.22 | 0.19 | 69 | Municipal Bonds | PDT vs TAMBX | |
| John Hancock Variable Insurance Trust Science & Te... | 0.22 | 0.23 | 0.34 | 89 | Technology Equities | PDT vs JESTX | |
| JHancock Short Duration Bond Fund | 0.23 | 0.28 | 0.29 | 71 | Short-Term Bond | PDT vs JSNIX |
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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 Plains All American Pipeline, L.P. (PAA) (Energy) with a 1Y correlation of 0.02, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Plains All American Pipeline, L.P. | 0.02 | 0.26 | 0.33 | 80 | Energy | |
| Energy Transfer LP | 0.04 | 0.25 | 0.32 | 72 | Energy | |
| Altria Group, Inc. | 0.04 | 0.22 | 0.23 | 72 | Consumer Defensive | |
| Enterprise Products Partners L.P. | 0.09 | 0.26 | 0.32 | 85 | Energy | |
| Sabra Health Care REIT, Inc. | 0.13 | 0.24 | 0.30 | 51 | Real Estate |
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