Looking to diversify beyond PDX? The mutual funds below have historically moved differently from PDX, 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 PDX
51 mutual funds have low correlation with PDX (below 0.3), 2 of which are negatively correlated. The least correlated is Goldman Sachs TacticalTiltOverlayFund (TTIFX) (Tactical Allocation) with a 1Y correlation of -0.05, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs TacticalTiltOverlayFund | -0.05 | 0.04 | 0.26 | 72 | Tactical Allocation | PDX vs TTIFX | |
| PIMCO Income Fund Institutional Class | -0.04 | 0.09 | 0.18 | 52 | Multisector Bonds | PDX vs PIMIX | |
| GuidePath Flexible Income Allocation Fund | 0.02 | 0.14 | 0.19 | 86 | Tactical Allocation | PDX vs GPIFX | |
| SEI Institutional Managed Trust Multi-Asset Income... | 0.03 | 0.18 | 0.27 | 94 | Tactical Allocation | PDX vs SIOAX | |
| Hussman Strategic Total Return Fund | 0.05 | 0.15 | 0.29 | 95 | Tactical Allocation | PDX vs HSTRX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PDX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is PIMCO Dynamic Income Opportunities Fund (PDO) (Financial Services) with a 1Y correlation of 0.01, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| PIMCO Dynamic Income Opportunities Fund | 0.01 | 0.16 | 0.28 | 65 | Financial Services | |
| Target Corporation | 0.02 | 0.13 | 0.24 | 84 | Consumer Defensive | |
| AGNC Investment Corp. | 0.07 | 0.23 | 0.33 | 79 | Real Estate | |
| BlackRock Science and Technology Trust | 0.13 | 0.23 | 0.35 | 80 | Financial Services | |
| BlackRock Science and Technology Term Trust | 0.21 | 0.29 | 0.37 | 87 | Financial Services |
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