Looking to diversify beyond PBQAX? The mutual funds below have the lowest correlation with PBQAX — 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 PBQAX.
Best Diversifiers for PBQAX
1 mutual funds have low correlation with PBQAX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Short Duration Multi-Sector Bond Fund (SDMZX) (Short-Term Bond) with a 1Y correlation of 0.28, up from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Short Duration Multi-Sector Bond Fund | 0.28 | 0.18 | 0.16 | 65 | Short-Term Bond | PBQAX vs SDMZX | |
| PGIM Short-Term Corporate Bond Fund | 0.32 | 0.22 | 0.17 | 56 | Short-Term Bond | PBQAX vs PBSMX | |
| Emerald Insights Fund | 0.32 | 0.78 | 0.87 | 98 | Large Cap Growth Equities | PBQAX vs EFCNX | |
| PGIM Floating Rate Income Fund | 0.35 | 0.35 | 0.33 | 94 | Bank Loan | PBQAX vs FRFZX | |
| PGIM High Yield Fund Class R6 | 0.51 | 0.49 | 0.49 | 75 | High Yield Bonds | PBQAX vs PHYQX |
See all 25 diversifiers for PBQAX
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