Looking to diversify beyond PDFEX? The mutual funds below have historically moved differently from PDFEX, 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 PDFEX
1 mutual funds have low correlation with PDFEX (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 0.30, roughly unchanged from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.30 | 0.32 | 0.33 | 97 | Bank Loan | PDFEX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.50 | 0.39 | 0.36 | 63 | Short-Term Bond | PDFEX vs SDMZX | |
| PGIM High Yield Fund | 0.61 | 0.58 | 0.60 | 63 | High Yield Bonds | PDFEX vs PBHAX | |
| PGIM High Yield Fund Class R6 | 0.63 | 0.59 | 0.61 | 65 | High Yield Bonds | PDFEX vs PHYQX | |
| PGIM Short Duration High Yield Income Fund | 0.65 | 0.65 | 0.63 | 67 | High Yield Bonds | PDFEX vs HYSZX |
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