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
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 0.33, roughly unchanged from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.33 | 0.35 | 0.33 | 96 | Bank Loan | PBQAX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.35 | 0.20 | 0.17 | 50 | Short-Term Bond | PBQAX vs SDMZX | |
| PGIM High Yield Fund Class R6 | 0.55 | 0.49 | 0.49 | 69 | High Yield Bonds | PBQAX vs PHYQX | |
| Baron Partners Fund | 0.56 | 0.66 | 0.74 | 52 | Large Cap Growth Equities | PBQAX vs BPTRX | |
| PGIM High Yield Fund | 0.57 | 0.48 | 0.48 | 65 | High Yield Bonds | PBQAX vs PBHAX |
See all 31 diversifiers for PBQAX
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