Looking to diversify beyond PMDE? The ETFs below have the lowest correlation with PMDE — 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 PMDE.
Best Diversifiers for PMDE
2 ETFs have low correlation with PMDE (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Ultra Short Municipal Bond ETF (PUSH) (Municipal Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Ultra Short Municipal Bond ETF | 0.16 | 0.16 | 0.16 | 92 | Municipal Bonds | PMDE vs PUSH | |
| PGIM Ultra Short Bond ETF | 0.24 | 0.24 | 0.24 | 99 | Ultrashort Bond | PMDE vs PULS | |
| PGIM AAA CLO ETF | 0.35 | 0.35 | 0.35 | 99 | CLO | PMDE vs PAAA | |
| PGIM Floating Rate Income ETF | 0.38 | 0.38 | — | 93 | Bank Loan | PMDE vs PFRL | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 0.45 | — | — | 98 | Defined Outcome | PMDE vs ZAPR |
See all 55 diversifiers for PMDE
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