Looking to diversify beyond PDODX? The mutual funds below have the lowest correlation with PDODX — 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 PDODX.
Best Diversifiers for PDODX
0 mutual funds have low correlation with PDODX (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 0.33, roughly unchanged from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.33 | 0.35 | 0.34 | 96 | Bank Loan | PDODX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.36 | 0.25 | 0.22 | 57 | Short-Term Bond | PDODX vs SDMZX | |
| PGIM High Yield Fund Class R6 | 0.57 | 0.51 | 0.53 | 69 | High Yield Bonds | PDODX vs PHYQX | |
| PGIM High Yield Fund | 0.58 | 0.51 | 0.52 | 65 | High Yield Bonds | PDODX vs PBHAX | |
| PGIM Short Duration High Yield Income Fund | 0.60 | 0.57 | 0.55 | 70 | High Yield Bonds | PDODX vs HYSZX |
See all 40 diversifiers for PDODX
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