Looking to diversify beyond PBHAX? The mutual funds below have the lowest correlation with PBHAX — 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 PBHAX.
Best Diversifiers for PBHAX
9 mutual funds have low correlation with PBHAX (below 0.3), 1 of which are negatively correlated. The least correlated is PGIM Quant Solutions Commodity Strategies Fund (PQCMX) (Commodities) with a 1Y correlation of -0.19, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Quant Solutions Commodity Strategies Fund | -0.19 | -0.01 | 0.11 | 77 | Commodities | PBHAX vs PQCMX | |
| Cliffwater Corporate Lending Fund | 0.01 | 0.07 | 0.08 | 100 | High Yield Bonds | PBHAX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.08 | 0.11 | 0.06 | 100 | High Yield Bonds | PBHAX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.20 | 0.15 | 0.22 | 100 | High Yield Bonds | PBHAX vs RPHIX | |
| PGIM Securitized Credit Fund | 0.23 | 0.12 | 0.21 | 99 | Nontraditional Bonds | PBHAX vs SCFZX |
See all 87 diversifiers for PBHAX
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