Looking to diversify beyond PQCCX? The mutual funds below have historically moved differently from PQCCX, 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 PQCCX
1 mutual funds have low correlation with PQCCX (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 0.23, roughly unchanged from 0.31 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 | 0.23 | 0.30 | 0.31 | 97 | Bank Loan | PQCCX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.36 | 0.20 | 0.17 | 63 | Short-Term Bond | PQCCX vs SDMZX | |
| PGIM High Yield Fund Class R6 | 0.49 | 0.46 | 0.47 | 65 | High Yield Bonds | PQCCX vs PHYQX | |
| PGIM High Yield Fund | 0.51 | 0.46 | 0.46 | 63 | High Yield Bonds | PQCCX vs PBHAX | |
| PGIM Short Duration High Yield Income Fund | 0.52 | 0.50 | 0.48 | 67 | High Yield Bonds | PQCCX vs HYSZX |
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