Looking to diversify beyond PDAHX? The mutual funds below have the lowest correlation with PDAHX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PDAHX.
Best Diversifiers for PDAHX
1 mutual funds have low correlation with PDAHX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Floating Rate Income Fund (FRFZX) (Bank Loan) with a 1Y correlation of 0.27, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.27 | 0.26 | 0.29 | 94 | Bank Loan | PDAHX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.56 | 0.48 | 0.48 | 64 | Short-Term Bond | PDAHX vs SDMZX | |
| PGIM High Yield Fund | 0.60 | 0.62 | 0.64 | 72 | High Yield Bonds | PDAHX vs PBHAX | |
| PGIM Short-Term Corporate Bond Fund | 0.60 | 0.57 | 0.54 | 55 | Short-Term Bond | PDAHX vs PBSMX | |
| PGIM High Yield Fund Class R6 | 0.61 | 0.63 | 0.65 | 75 | High Yield Bonds | PDAHX vs PHYQX |
See all 620 diversifiers for PDAHX
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