Looking to diversify beyond PQCMX? The mutual funds below have historically moved differently from PQCMX, 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 PQCMX
8 mutual funds have low correlation with PQCMX (below 0.3), 8 of which are negatively correlated. The least correlated is PGIM Short-Term Corporate Bond Fund (PBSMX) (Short-Term Bond) with a 1Y correlation of -0.29, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Short-Term Corporate Bond Fund | -0.29 | -0.11 | -0.03 | 66 | Short-Term Bond | PQCMX vs PBSMX | |
| PGIM High Yield Fund Class R6 | -0.25 | -0.04 | 0.10 | 65 | High Yield Bonds | PQCMX vs PHYQX | |
| PGIM Short Duration High Yield Income Fund | -0.25 | -0.06 | 0.10 | 67 | High Yield Bonds | PQCMX vs HYSZX | |
| PGIM Short Duration Multi-Sector Bond Fund | -0.24 | -0.13 | -0.04 | 63 | Short-Term Bond | PQCMX vs SDMZX | |
| PGIM High Yield Fund | -0.21 | -0.04 | 0.10 | 63 | High Yield Bonds | PQCMX vs PBHAX |
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