Looking to diversify beyond PUDZX? The mutual funds below have historically moved differently from PUDZX, 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 PUDZX
5 mutual funds have low correlation with PUDZX (below 0.3), 1 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of -0.05, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | -0.05 | 0.08 | 0.36 | 68 | Diversified Portfolio | PUDZX vs MHELX | |
| PGIM Floating Rate Income Fund | 0.11 | 0.16 | 0.23 | 95 | Bank Loan | PUDZX vs FRFZX | |
| SEI Asset Allocation Trust Defensive Strategy Allo... | 0.12 | 0.25 | 0.33 | 99 | Diversified Portfolio | PUDZX vs STDAX | |
| Federated Hermes Capital Income Fund | 0.16 | 0.43 | 0.57 | 72 | Diversified Portfolio | PUDZX vs CAPAX | |
| Virtus Diversified Income & Convertible Fund | 0.20 | 0.34 | 0.41 | 65 | Diversified Portfolio, Convertible Bonds | PUDZX vs ACV |
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