Looking to diversify beyond PEGZX? The mutual funds below have the lowest correlation with PEGZX — 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 PEGZX.
Best Diversifiers for PEGZX
2 mutual funds have low correlation with PEGZX (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 0.28, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.28 | 0.31 | 0.29 | 96 | Bank Loan | PEGZX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.30 | 0.17 | 0.16 | 53 | Short-Term Bond | PEGZX vs SDMZX | |
| PGIM Short-Term Corporate Bond Fund | 0.34 | 0.19 | 0.17 | 57 | Short-Term Bond | PEGZX vs PBSMX | |
| PGIM High Yield Fund Class R6 | 0.46 | 0.44 | 0.45 | 72 | High Yield Bonds | PEGZX vs PHYQX | |
| PGIM Short Duration High Yield Income Fund | 0.49 | 0.49 | 0.46 | 68 | High Yield Bonds | PEGZX vs HYSZX |
See all 22 diversifiers for PEGZX
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