Looking to diversify beyond PBQAX? The mutual funds below have historically moved differently from PBQAX, 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 PBQAX
0 mutual funds have low correlation with PBQAX (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 0.31, roughly unchanged from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.31 | 0.34 | 0.33 | 97 | Bank Loan | PBQAX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.38 | 0.21 | 0.18 | 63 | Short-Term Bond | PBQAX vs SDMZX | |
| PGIM Short-Term Corporate Bond Fund | 0.40 | 0.22 | 0.19 | 66 | Short-Term Bond | PBQAX vs PBSMX | |
| PGIM High Yield Fund | 0.57 | 0.47 | 0.49 | 63 | High Yield Bonds | PBQAX vs PBHAX | |
| PGIM High Yield Fund Class R6 | 0.57 | 0.49 | 0.50 | 65 | High Yield Bonds | PBQAX vs PHYQX |
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