Looking to diversify beyond PGDIX? The mutual funds below have historically moved differently from PGDIX, 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 PGDIX
3 mutual funds have low correlation with PGDIX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.16 | 0.30 | 0.25 | 99 | Multisector Bonds | PGDIX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.20 | 0.32 | 0.26 | 99 | Multisector Bonds | PGDIX vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.29 | 0.29 | 0.28 | 95 | Multisector Bonds | PGDIX vs CBLDX | |
| Principal Diversified Select Real Asset Fund | 0.38 | 0.46 | 0.53 | 97 | Global Allocation | PGDIX vs PDSYX | |
| Easterly Income Opportunities Fund | 0.51 | 0.65 | 0.59 | 80 | Multisector Bonds | PGDIX vs JSVIX |
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