Looking to diversify beyond PQDMX? The mutual funds below have historically moved differently from PQDMX, 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 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 0.27, 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 | 0.27 | 0.28 | 0.31 | 97 | Bank Loan | PQDMX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.45 | 0.28 | 0.27 | 63 | Short-Term Bond | PQDMX vs SDMZX | |
| Pear Tree Polaris Foreign Value Fund | 0.48 | 0.62 | 0.70 | 88 | Foreign Large Cap Equities | PQDMX vs QFVOX | |
| Federated Hermes International Strategic Value Div... | 0.50 | 0.61 | 0.71 | 88 | Foreign Large Cap Equities | PQDMX vs IVFIX | |
| PGIM High Yield Fund | 0.55 | 0.49 | 0.52 | 63 | High Yield Bonds | PQDMX vs PBHAX |
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