Looking to diversify beyond PGJZX? The mutual funds below have historically moved differently from PGJZX, 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 PGJZX
19 mutual funds have low correlation with PGJZX (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 0.11, down from 0.23 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 | 0.11 | 0.17 | 0.23 | 97 | Bank Loan | PGJZX vs FRFZX | |
| Vanguard Energy Index Fund Admiral Shares | 0.15 | 0.28 | 0.39 | 72 | Energy Equities | PGJZX vs VENAX | |
| Invesco Energy Fund | 0.15 | 0.28 | 0.40 | 73 | Energy Equities | PGJZX vs FSTEX | |
| Guinness Atkinson Global Energy Fund | 0.16 | 0.28 | 0.40 | 84 | Energy Equities | PGJZX vs GAGEX | |
| Fidelity Select Energy Portfolio | 0.17 | 0.28 | 0.40 | 87 | Energy Equities | PGJZX vs FSENX |
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