Looking to diversify beyond PDKFX? The mutual funds below have the lowest correlation with PDKFX — 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 PDKFX.
Best Diversifiers for PDKFX
0 mutual funds have low correlation with PDKFX (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 0.31, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Short Duration Multi-Sector Bond Fund | 0.31 | 0.23 | 0.22 | 64 | Short-Term Bond | PDKFX vs SDMZX | |
| PGIM Floating Rate Income Fund | 0.34 | 0.35 | 0.35 | 94 | Bank Loan | PDKFX vs FRFZX | |
| PGIM High Yield Fund Class R6 | 0.52 | 0.51 | 0.53 | 75 | High Yield Bonds | PDKFX vs PHYQX | |
| PGIM High Yield Fund | 0.53 | 0.50 | 0.53 | 72 | High Yield Bonds | PDKFX vs PBHAX | |
| PGIM Short Duration High Yield Income Fund | 0.57 | 0.58 | 0.55 | 70 | High Yield Bonds | PDKFX vs HYSZX |
See all 44 diversifiers for PDKFX
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