Looking to diversify beyond PQCMX? The mutual funds below have the lowest correlation with PQCMX — 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 PQCMX.
Best Diversifiers for PQCMX
6 mutual funds have low correlation with PQCMX (below 0.3), 6 of which are negatively correlated. The least correlated is PGIM High Yield Fund Class R6 (PHYQX) (High Yield Bonds) with a 1Y correlation of -0.28, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM High Yield Fund Class R6 | -0.28 | -0.01 | 0.12 | 75 | High Yield Bonds | PQCMX vs PHYQX | |
| PGIM Short Duration High Yield Income Fund | -0.27 | -0.03 | 0.11 | 74 | High Yield Bonds | PQCMX vs HYSZX | |
| PGIM Short Duration Multi-Sector Bond Fund | -0.24 | -0.10 | -0.03 | 65 | Short-Term Bond | PQCMX vs SDMZX | |
| PGIM Short-Term Corporate Bond Fund | -0.24 | -0.08 | -0.02 | 56 | Short-Term Bond | PQCMX vs PBSMX | |
| PGIM High Yield Fund | -0.21 | -0.01 | 0.12 | 71 | High Yield Bonds | PQCMX vs PBHAX |
See all 41 diversifiers for PQCMX
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