Looking to diversify beyond PQCNX? The mutual funds below have historically moved differently from PQCNX, 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 PQCNX
1 mutual funds have low correlation with PQCNX (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 0.21, up from 0.11 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 | 0.21 | 0.12 | 0.11 | 97 | Bank Loan | PQCNX vs FRFZX | |
| PGIM Jennison Small Company Fund | 0.32 | 0.23 | 0.17 | 67 | Small Cap Growth Equities | PQCNX vs PGOAX | |
| PGIM 60/40 Allocation Fund | 0.40 | 0.38 | 0.33 | 76 | Diversified Portfolio | PQCNX vs PALDX | |
| PGIM High Yield Fund | 0.60 | 0.59 | 0.55 | 63 | High Yield Bonds | PQCNX vs PBHAX | |
| PGIM Short Duration High Yield Income Fund | 0.64 | 0.63 | 0.56 | 67 | High Yield Bonds | PQCNX vs HYSZX |
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