Looking to diversify beyond PDEZX? The mutual funds below have the lowest correlation with PDEZX — 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 PDEZX.
Best Diversifiers for PDEZX
2 mutual funds have low correlation with PDEZX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Short Duration Multi-Sector Bond Fund (SDMZX) (Short-Term Bond) with a 1Y correlation of 0.17, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Short Duration Multi-Sector Bond Fund | 0.17 | 0.11 | 0.12 | 64 | Short-Term Bond | PDEZX vs SDMZX | |
| PGIM Short-Term Corporate Bond Fund | 0.17 | 0.11 | 0.12 | 55 | Short-Term Bond | PDEZX vs PBSMX | |
| PGIM Floating Rate Income Fund | 0.32 | 0.24 | 0.26 | 94 | Bank Loan | PDEZX vs FRFZX | |
| PGIM High Yield Fund Class R6 | 0.41 | 0.35 | 0.37 | 75 | High Yield Bonds | PDEZX vs PHYQX | |
| PGIM Short Duration High Yield Income Fund | 0.42 | 0.37 | 0.37 | 70 | High Yield Bonds | PDEZX vs HYSZX |
See all 152 diversifiers for PDEZX
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Diversification Analysis
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