Looking to diversify beyond PWDIX? The mutual funds below have historically moved differently from PWDIX, 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 PWDIX
10 mutual funds have low correlation with PWDIX (below 0.3), 1 of which are negatively correlated. The least correlated is BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) (Tactical Allocation) with a 1Y correlation of -0.06, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund Institutiona... | -0.06 | 0.20 | 0.16 | 85 | Tactical Allocation | PWDIX vs PBAIX | |
| AQR Diversifying Strategies Fund Class N | 0.19 | 0.22 | 0.17 | 92 | Tactical Allocation | PWDIX vs QDSNX | |
| Alpha Fiduciary Quantitative Strategy Fund | 0.23 | 0.23 | 0.34 | 83 | Tactical Allocation | PWDIX vs AFQSX | |
| Hussman Strategic Total Return Fund | 0.24 | 0.27 | 0.34 | 93 | Tactical Allocation | PWDIX vs HSTRX | |
| Quantified Evolution Plus Fund | 0.24 | 0.35 | 0.30 | 82 | Tactical Allocation | PWDIX vs QEVOX |
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