Looking to diversify beyond PQDMX? The mutual funds below have the lowest correlation with PQDMX — 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 PQDMX.
Best Diversifiers for PQDMX
1 mutual funds have low correlation with PQDMX (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 0.28, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.28 | 0.29 | 0.31 | 94 | Bank Loan | PQDMX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.38 | 0.27 | 0.25 | 64 | Short-Term Bond | PQDMX vs SDMZX | |
| PGIM High Yield Fund Class R6 | 0.51 | 0.48 | 0.52 | 75 | High Yield Bonds | PQDMX vs PHYQX | |
| PGIM High Yield Fund | 0.52 | 0.49 | 0.52 | 72 | High Yield Bonds | PQDMX vs PBHAX | |
| PGIM Short Duration High Yield Income Fund | 0.55 | 0.54 | 0.54 | 70 | High Yield Bonds | PQDMX vs HYSZX |
See all 20 diversifiers for PQDMX
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