Looking to diversify beyond PBHAX? The mutual funds below have historically moved differently from PBHAX, 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 PBHAX
9 mutual funds have low correlation with PBHAX (below 0.3), 3 of which are negatively correlated. The least correlated is PGIM Quant Solutions Commodity Strategies Fund (PQCMX) (Commodities) with a 1Y correlation of -0.21, down from 0.10 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 | -0.21 | -0.04 | 0.10 | 80 | Commodities | PBHAX vs PQCMX | |
| Fairholme Focused Income Fund | -0.04 | 0.17 | 0.28 | 70 | High Yield Bonds | PBHAX vs FOCIX | |
| PGIM Jennison MLP Fund | -0.03 | 0.17 | 0.27 | 70 | Energy Equities | PBHAX vs PRPZX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.08 | 0.05 | 0.09 | 100 | Bank Loan, High Yield Bonds | PBHAX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.14 | 0.11 | 0.06 | 100 | High Yield Bonds | PBHAX vs XILSX |
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