Looking to diversify beyond PSDSX? The mutual funds below have historically moved differently from PSDSX, 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 PSDSX
26 mutual funds have low correlation with PSDSX (below 0.3), 2 of which are negatively correlated. The least correlated is CrossingBridge Ultra-Short Duration Fund (CBUDX) (Ultrashort Bond) with a 1Y correlation of -0.02, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CrossingBridge Ultra-Short Duration Fund | -0.02 | 0.12 | 0.14 | 99 | Ultrashort Bond | PSDSX vs CBUDX | |
| PIMCO Short Asset Investment Fund | -0.01 | 0.05 | 0.10 | 100 | Ultrashort Bond | PSDSX vs PAIPX | |
| Federated Hermes Conservative Microshort Fund | 0.03 | 0.10 | 0.14 | 99 | Ultrashort Bond | PSDSX vs FHCOX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.04 | 0.16 | 0.23 | 100 | Ultrashort Bond | PSDSX vs FCNVX | |
| U.S. Global Investors U.S. Government Ultra-Short ... | 0.04 | 0.06 | 0.10 | 99 | Ultrashort Bond | PSDSX vs UGSDX |
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