Looking to diversify beyond PBEAX? The mutual funds below have the lowest correlation with PBEAX — 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 PBEAX.
Best Diversifiers for PBEAX
1 mutual funds have low correlation with PBEAX (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 0.29, 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 | 0.29 | 0.33 | 0.31 | 96 | Bank Loan | PBEAX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.33 | 0.20 | 0.15 | 50 | Short-Term Bond | PBEAX vs SDMZX | |
| Federated Hermes Strategic Value Dividend Fund | 0.45 | 0.56 | 0.69 | 80 | Large Cap Value Equities | PBEAX vs SVAIX | |
| PGIM High Yield Fund | 0.54 | 0.46 | 0.46 | 65 | High Yield Bonds | PBEAX vs PBHAX | |
| PGIM Short Duration High Yield Income Fund | 0.55 | 0.51 | 0.48 | 68 | High Yield Bonds | PBEAX vs HYSZX |
See all 35 diversifiers for PBEAX
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