Looking to diversify beyond PDIHX? The mutual funds below have the lowest correlation with PDIHX — 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 PDIHX.
Best Diversifiers for PDIHX
0 mutual funds have low correlation with PDIHX (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 0.34, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Short Duration Multi-Sector Bond Fund | 0.34 | 0.26 | 0.25 | 64 | Short-Term Bond | PDIHX vs SDMZX | |
| PGIM Floating Rate Income Fund | 0.35 | 0.35 | 0.35 | 94 | Bank Loan | PDIHX vs FRFZX | |
| PGIM High Yield Fund Class R6 | 0.53 | 0.53 | 0.55 | 75 | High Yield Bonds | PDIHX vs PHYQX | |
| PGIM High Yield Fund | 0.55 | 0.53 | 0.54 | 72 | High Yield Bonds | PDIHX vs PBHAX | |
| PGIM Short Duration High Yield Income Fund | 0.59 | 0.60 | 0.57 | 70 | High Yield Bonds | PDIHX vs HYSZX |
See all 40 diversifiers for PDIHX
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