Looking to diversify beyond FRFZX? The mutual funds below have historically moved differently from FRFZX, 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 FRFZX
37 mutual funds have low correlation with FRFZX (below 0.3), 2 of which are negatively correlated. The least correlated is PGIM Quant Solutions Commodity Strategies Fund (PQCMX) (Commodities) with a 1Y correlation of -0.04, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Quant Solutions Commodity Strategies Fund | -0.04 | -0.03 | 0.07 | 80 | Commodities | FRFZX vs PQCMX | |
| Federated Hermes Project and Trade Finance Tender ... | -0.03 | 0.05 | 0.13 | 92 | Bank Loan | FRFZX vs XPTFX | |
| PGIM Jennison MLP Fund | 0.00 | 0.13 | 0.21 | 70 | Energy Equities | FRFZX vs PRPZX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.08 | 0.09 | 0.15 | 100 | Bank Loan, High Yield Bonds | FRFZX vs CCLFX | |
| PGIM US Real Estate Fund | 0.10 | 0.20 | 0.23 | 76 | REIT | FRFZX vs PJEZX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FRFZX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Alliant Energy Corporation (LNT) (Utilities) with a 1Y correlation of -0.10, down from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alliant Energy Corporation | -0.10 | 0.03 | 0.04 | 67 | Utilities | |
| American Electric Power Company, Inc. | -0.06 | 0.01 | 0.02 | 72 | Utilities | |
| National Grid plc | -0.04 | 0.02 | 0.06 | 65 | Utilities | |
| Pfizer Inc. | 0.13 | 0.12 | 0.07 | 62 | Healthcare |
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